| 2018-04-09 11:14:56|
RCII 11:14 04/09 04/09/18
Rent-A-Center upgraded to Hold after reports of takeover bids at Loop Capital
As previously reported, Loop Capital analyst Anthony Chukumba upgraded Rent-A-Center to Hold from Sell following "widespread media reports" that the company has received multiple takeover bids, including one from turnaround specialist Cerberus. The analyst, who also cited the company's report of its first core U.S. same store sales growth since 2015 in his upgrade, said he continues to have doubts about whether Rent-A-Center will ultimately be sold at a significant premium to its current stock price. Chukumba raised his price target on Rent-A-Center shares to $9 from $6.