Stifel analyst John Baugh last night upgraded Conn's to Buy from Hold and raised his price target for the shares to $45 from $35. The analyst left a recent meeting with management feeling confident that the recent indications of improvement in the credit segment should continue. Conn's is in the beginning stages of the financial impact of the improvements made to a variety of aspects of its credit operation, Baugh tells investors in a research note. The analyst believes the company earn $4.50 of earnings per share by fiscal 2022. Even with the stock trading near 52-week highs, Baugh sees "compelling upside for investors."