In a report published Friday, Stifel Nicolaus analyst John Baugh reiterated a Buy rating on Conn's CONN, and raised the price target from $57.00 to $59.00.
In the report, Stifel Nicolaus noted, “The company continues to see very strong growth in revenue and an expanding retail gross margin. Comparable store sales of 16.5% were ahead of our model of roughly 13% and the company has increased the guidance for same store sales for the rest of this year (we were estimating a 7% comp and the new guidance is for 8%-13% growth). We will move our comp assumption to closer to 11%.”
Conn's closed on Thursday at $53.96.
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