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Fly News Breaks for January 3, 2019
RCII
Jan 3, 2019 | 07:01 EDT
Stephens analyst Vincent Caintic downgraded Rent-A-Center to Underweight from Equal Weight as he believes the bull case is already built into the shares and is providing a premium multiple even if guidance is achieved, which he does not expect. Absent the merger with Vintage Capital, he sees the stock trading below $15 per share, Caintic tells investors, calling the $15 deal price the "best case" in the near-term. The analyst, whose EPS estimate for 2019 is below Rent-A-Center guidance, keeps a $14 price target on the shares.
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