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Fly News Breaks for July 18, 2017
AAN, RCII
Jul 18, 2017 | 09:09 EDT
After three representatives of an activist investor were appointed to Rent-A-Center's (RCII) board, Loop Capital analyst Anthony Chukumba says that Aaron's (AAN) is unlikely to look to acquire the company because its business model is being hurt by virtual rent-to-own offerings. According to the analyst, Aaron's is much better positioned than Rent-A-Center in the virtual rent-to-own space. Moreover, the analyst thinks that the FTC could block the acquisition. He reiterates an $8 price target and a Sell rating on Rent-A-Center.
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