Raymond James analyst Bobby Griffin reaffirmed a Strong Buy rating on Aaron's (AAN), but lowered his price target on shares to $60 from $80 following the company's "ugly" Q4 earnings. The analyst noted that most of Aaron's results were ahead of expectations, and the Progressive invoice volume growth exceeded expectations, but he added that FY20 guidance for Aaron's core business was disappointing. Griffin said these results leave "egg on our face" as he had called Aaron's an Analyst Best Pick for 2020, but he is "not throwing in the towel" as he sees Aaron's portfolio being rebuilt and the company's performance improving throughout 2020, as well as the Progressive growth story still remaining intact.