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Fly News Breaks for March 30, 2016
CONN
Mar 30, 2016 | 08:37 EDT
Piper Jaffray analyst Peter Keith lowered his price target for Conn's to $16 from $25 to account for slower earnings per share growth. Despite seeing the possibility for "significant" growth over the coming years, the analyst believes the company's credit performance remains "disappointing" and "cracks" are beginning to form in subprime consumer lending. Keith reiterates his Overweight rating on Conn's shares, saying he believes the stock's 30% discount to book value represents an oversold valuation.
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