Advance America Cash Advance Centers initiated with "market outperform" - update | newratings.com

NEW YORK, February 18 (newratings.com) - Analyst John Hecht of JMP Securities initiates coverage of Advance America Cash Advance Centers (ticker: AEA) with a "market outperform" rating. The 12-month target price is set to $25. In a research note published yesterday, the analyst mentions that the company is poised to benefit significantly in the near future from the rapid growth of the payday lending industry. The analyst believes that Advance America Cash Advance Centers would witness $100 million of store level operating income growth over the next couple of years. The company is expected to expand its store base and undertake acquisitions in the near future to gain substantial market share, JMP Securities adds.