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RCII

Rent-A-Center

$12.50

1.61 (14.78%)

19:06
06/12/18
06/12
19:06
06/12/18
19:06

Rent-A-Center reviewing $14 per share proposal from Vintage Capital

Rent-A-Center confirmed it has received a proposal from Vintage Capital Management, LLC to acquire all outstanding shares of Rent-A-Center. The Company issued the following statement: "Vintage filed a Schedule 13D amendment this morning containing a letter to the Rent-A-Center Board of Directors offering to acquire the Company for $14.00 per share in cash. Subsequently, Vintage provided Rent-A-Center with an equity commitment letter and other necessary supporting documentation related to its bid. Consistent with its fiduciary duties, the Rent-A-Center Board is reviewing Vintage's latest offer, with the assistance of outside financial and legal advisors, to determine the course of action that is in the best interest of the Company and all its stockholders. As previously announced, the Board is prepared to enter into a transaction that it believes will achieve its objectives of maximizing value for stockholders and providing certainty of closing. Rent-A-Center stockholders do not need to take any action at this time. "

RCII Rent-A-Center
$12.50

1.61 (14.78%)

06/11/18
LOOP
06/11/18
NO CHANGE
Target $11
LOOP
Hold
Rent-A-Center price target raised to $11 from $9 at Loop Capital
Loop Capital analyst Anthony Chukumba raised his price target on Rent-A-Center to $11, citing a much better than expected Q2 and FY18 guidance. The analyst notes that while the management's decision not to sell the company was not surprising, the progress made in the turnaround was "astonishing", while also pointing to the management's raised cost reduction target. Chukumba still questions the "sustainability of the turnaround", keeping his Hold rating on Rent-A-Center.
06/11/18
SPHN
06/11/18
NO CHANGE
Target $5
SPHN
Underweight
Stephens maintains Underweight rating on Rent-A-Center after review concluded
After Rent-A-Center concluded its strategic review without a sale and updated its 2018 guidance, Stephens analyst Vincent Caintic maintained his $5 price target and Underweight rating on stock, which he said he expected to be "materially lower today." In early trading, Rent-A-Center shares are up 1.5% to $10.25.
06/11/18
JANY
06/11/18
NO CHANGE
Target $14
JANY
Buy
Rent-A-Center guidance reinforces Buy rating, says Janney Montgomery Scott
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.
06/12/18
LOOP
06/12/18
NO CHANGE
Target $11
LOOP
Hold
Rent-A-Center takeover offer difficult to assess, says Loop Capital
Loop Capital analyst Anthony Chukumba finds it difficult to assess how serious Vintage Capital's takeover offer is for Rent-A-Center. For example, Vintage offered $13.00 a share for Rent-A-Center in November 2017 with the provision the company not disclose proprietary information to future competitors, Chukumba tells investors in a research note. Further, even if the latest $14 per share offer is credible, it is unclear whether Rent-A-Center's board should accept it given the "recent dramatic turnaround in the company's performance," the analyst adds. Chukumba believes his Hold rating remains appropriate for the stock.

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