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UPDATE: Canaccord Genuity Downgrades Aaron's to Hold on Valuation, Weakening Trends

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Canaccord Genuity downgraded Aaron's (NYSE: AAN) from Buy to Hold and lowered the price target from $34.00 to $30.00.

Canaccord Genuity noted, "We are downgrading shares of AAN from Buy to HOLD ahead of the company's Q4 earnings release as we believe the core rent-to-own industry remains pressured. … In our view, AAN lacks a clear growth catalyst comparable to RCII's kiosks. AAN's store base is growing at an annual rate of 5% vs. the specialty retail group's average of +6%, and ancillary concepts are still in the infant stages. We believe shares are fairly valued at 13x our 2013 EPS estimate and 7x 2013E EV/EBITDA."

Aaron's closed at $29.85 on Wednesday.

Latest Ratings for AAN

DateFirmActionFromTo
Jan 2017SunTrust Robinson HumphreyUpgradesHoldBuy
Jan 2017Raymond JamesDowngradesStrong BuyMarket Perform
Dec 2016Loop CapitalInitiates Coverage OnHold

View More Analyst Ratings for AAN
View the Latest Analyst Ratings

Posted-In: Canaccord GenuityAnalyst Color Downgrades Analyst Ratings

 

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