Zacks Investment Research downgraded shares of ENCORE CAP GRP (ECPG) from OUTPERFORM to NEUTRAL on October 15, 2012, with a target price of $33.20.
Encore Capital Group is a leading provider of debt management and recovery solutions for consumers and property owners across a broad range of assets. Through its subsidiaries, the company purchases portfolios of consumer receivables from major banks, credit unions, and utility providers, and partners with individuals as they repay their obligations and work toward financial recovery. Through its Propel Financial Services subsidiary, the company assists property owners who are delinquent on their property taxes by structuring affordable monthly payment plans. Encore's success and future growth are driven by its sophisticated and widespread use of analytics, its broad investments in data and behavioral science, the significant cost advantages provided by its highly-efficient operating model and proven investment strategy, and the company's demonstrated commitment to conducting business ethically and in ways that support its consumers' financial recovery.
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