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Fly News Breaks for June 11, 2018
RCII
Jun 11, 2018 | 11:52 EDT
Janney Montgomery Scott analyst John Rowan says the "strong" guidance issued by Rent-A-Center reinforces his Buy rating on the shares. While the company's strategic review process ended without a sale, management issued Q2 and 2018 guidance that is "significantly" higher than Street expectations and said that same store sales growth is now solidly positive, Rowan tells investors in a research note. The analyst does not value Rent-A-Center based on a takeout scenario and adds the guidance gives him "much greater confidence" in his 2019 earnings estimates. He keeps a $14 price target on Rent-A-Center shares.
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