Stifel analyst John Baugh downgraded Conn's to Hold from Buy with a price target of $15, down from $31. He also removed the shares from the Stifel Select List. A number of factors are driving the "poor" comp guidance, which will likely be in negative territory for much of fiscal 2021, Baugh tells investors in a research note. While Conn's credit business has contributed a significant amount of earnings growth over the past several years, the company is now at the targeted 1,000 basis points credit spread, leaving less upside to earnings while the retail business struggles to grow, contends the analyst. He believes Conn's will need to show an ability to grow same store sales before the stock is likely to see much upside.