UPDATE: Stifel Nicolaus Raises PT on Conn's on Strong Retail Margins

In a report published Friday, Stifel Nicolaus analyst John Baugh reiterated a Buy rating on

, 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.