New York, September 19 (FinanceEnquiry.com) – Analysts at Jefferies downgrade their rating on the shares of DFC Global Corp (NASDAQ: DLLR) from BUY to HOLD. The 12-month target price has been reduced from $25 to $19.
In a research note published on September 18, the analysts mention that since it seems that DFC Global Corp’s use of CPA will be reduced by approaching guidance of OFT, DLLR has been downgraded from BUY to HOLD.
In addition to this, DFC Global Corp is expected to see higher losses as they adjust to the new rules of CPA as well as advanced servicing and collection costs with roughly 35 percent of revenues from UK payday products.
Furthermore, shares of the company seem to have been reduced by falling online payday revenue growth of UK, inevitable late fees from borrowers 60 + days past due and the forthcoming Finnish Parliamentary hearings on limiting payday lending, the analysts add further.
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