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Fly News Breaks for February 21, 2020
AAN
Feb 21, 2020 | 08:47 EDT
Jefferies analyst Kyle Joseph cut his price target on shares of Aaron's to $60 from $78 following the company's "ugly" guidance, but he contends that the Progressive unit "is not broken" and the stock is "too cheap" at current levels following the post-earnings pullback. At a high level, the majority of the variance between the guidance and what he been forecasting is from underperformance in the Aaron's segment, noted Joseph, who keeps a Buy rating on Aaron's shares.
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