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Fly News Breaks for September 20, 2016
ECPG
Sep 20, 2016 | 05:35 EDT
Citi analyst Michael Kaye downgraded Encore Capital Group to Neutral saying his industry contacts indicate the Consumer Financial Protection Bureau debt collection rulemaking could prove more challenging than anticipated. Further, the analyst expects the stock to be in the "penalty box" following its surprise announcement last quarter about a possible European impairment charge. Kaye cut his price target for Encore shares to $24 from $31.
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