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Fly News Breaks for July 16, 2019
BBY, AAN
Jul 16, 2019 | 08:34 EDT
Loop Capital analyst Anthony Chukumba raised his price target on Aaron's (AAN) to $70 and kept his Buy rating ahead of its Q2 earnings next week, saying he is turning increasingly more bullish on its Progressive Leasing business given the growth in its volume per active door metric and early results from its Best Buy (BBY) partnership. The analyst adds that the premium valuation on Aaron's stock is warranted by Progressive's "substantial 'white space'" opportunity and his expectation of continued sequential improvement in its core business.
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