UPDATE: Jefferies Raises Price Target on Conn's to $12
According to Jefferies, Conn's (NASDAQ: CONN) price target is raised to $12.
Jefferies said that it saw various puts and takes contribute to the Q3 miss including higher SG&A and reductions in service agreement revenue from defaulted accounts. “Our $12 price target (from $7) is based on the stock selling at about 11x our $1.10 FY13 EPS estimate.”
Conn's closed on Friday at $12.74.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.