| Over a week ago | ||||
Loop Capital analyst… Loop Capital analyst Anthony Chukumba names Aaron's as one of Loop Capital's Top Picks for 2021, also keeping his Buy rating and $30 price target on the stock. Investors had "thrown out the baby with the bathwater", the analyst tells investors in a research note, selling the stock and resulting in one of the lowest valuations in his entire coverage universe. Aaron's should to continue to benefit from strong collections and low write-offs in 2021, Chukumba adds. | ||||
Raymond James analyst… Raymond James analyst Bobby Griffin raised the firm's price target on Rent-A-Center (RCII) to $45 from $38 and keeps a Strong Buy rating on the shares following Rent-A-Center's announced acquisition of Acima Holdings. Griffin says the initial strategic and financial takeaways from the acquisition are very favorable for Rent-A-Center's future growth prospects, as the deal will substantially increase Rent-A-Center's retail partner base, product verticals, and virtual lease to own capabilities, making it a formidable peer to industry leader Progressive Leasing (PRG). | ||||
Stephens analyst Vincent… Stephens analyst Vincent Caintic raised the firm's price target on Rent-A-Center (RCII) to $52 from $45 and keeps an Overweight rating on the shares, stating that he is "incrementally positive" on the stock following the company's acquisition of Acima, which he said "leapfrogs Rent A Center to a direct competitor" against PROG Holdings' (PRG) Progressive. Stating that Rent-A-Center's point of sale offering "should now be on-par" with Progressive, and that the company may now better Progressive in some critical areas such as e-commerce and mobile, Caintic added that the Acima deal make him more cautious on PROG Holdings. | ||||
| Over a month ago | ||||
Catch up on today's… Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Verb Technology (VERB) initiated with a Buy at Ladenburg. 2. Aaron's (AAN) initiated with a Buy at Berenberg. 3. Rocket Companies (RKT) initiated with a Buy at Jefferies. 4. Altimmune (ALT) initiated with a Buy at Jefferies. 5. NIO Inc. (NIO) and Xpeng (XPEV)initiated with a Buy, while Li Auto (LI) initiated with a Neutral at Daiwa. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here. | ||||
On Friday, Berenberg… On Friday, Berenberg analyst Alex Maroccia initiated coverage of the "new" Aaron's (AAN) - which is now a pure-play lease-to-own retailer - with a Buy rating and $26 price target following its separation from virtual rent-to-own solutions provider PROG Holdings (PRG), the parent company of Progressive Leasing. On a standalone basis, he thinks the potential upside from the restructuring of Aaron's is not currently reflected in the company's valuation. | ||||
New option listings for… New option listings for December 9th include Aaron's (AAN), Black Diamond Therapeutics Inc (BDTX), INSU Acquisition Corporation II (Class A Stock) (INAQ), Maravai LifeSciences Holdings Inc (Class A Stock) (MRVI), National Energy Services Reunited Corporation (NESR), Oasis Petroleum Inc (OAS), Ozon Holdings PLC (ADS) (OZON), Passage Bio Inc (PASG), and Virtus Infracap US Preferred Stock ETF (PFFA). | |
Loop Capital analyst… Loop Capital analyst Anthony Chukumba initiated coverage of PROG Holdings with a Buy rating and $80 price target. The analyst claims that the company operates in a large total addressable market and faces little competition for national retail partners. Chukumba also contends that Progressive can generate further top-line growth by "fully integrating" its platform with its existing retail partners' e-commerce channels, and also by directly marketing to its customers. | |
Raymond James analyst… Raymond James analyst Bobby Griffin continued coverage of PROG Holdings (PRG) with an Outperform rating, but lowered the firm's price target to $63 from $68, after Aaron's (AAN) completed the spinout of the core Aaron's business, leaving the Progressive & Vive business units. Griffin says the virtual lease to own industry is an attractive industry, with a large addressable market that creates a multiyear growth opportunity, and sees the potential for tighter consumer credit conditions. | |
Raymond James analyst… Raymond James analyst Bobby Griffin initiated coverage of Aaron's with a Market Perform rating after the company completed the spinout of the core Aaron's business. Griffin thinks the real estate optimization should enable further efficiency gains, coupled with consistent cash flow generation, but feels "shrink to grow" stories are tough stocks to recommend, particularly during the initial phase of revenue declines. | |
Truist analyst Bill… Truist analyst Bill Chappell assumed coverage of PROG Holdings (PRG) with a Buy rating and $65 price target. The analyst notes that following its spin-off from Aaron's (AAN), the company will continue to see positive top line momentum as it improves penetration at existing retail partners and adds more new partners. Chappell adds that PROG Holdings should benefit from its ability to add more consumers in the mid-tier of the credit stack as other competitors move higher in the stack or exit the market. |