Loading...
Loading...
In a report published Friday, Stifel analyst John Baugh reiterated a Buy rating on
Conn'sCONN, and raised the price target from $74.00 to $87.00.
In the report, Stifel noted, “Investors were clearly convinced the credit collections issues from the summer, which caused a spike in bad debt provision and delinquency, have been largely resolved judging by the stock's 19% move in trading Thursday (compared to a 0.4% decrease in the S&P 500). We were surprised by the level of skepticism from the Street when the collections issue was disclosed but these results should largely calm fears of a much greater delinquency problem. While delinquency rates were higher than the previous year, management commented that rates at the end of November were consistent with levels over the past several years and that Q4 would see a sequential reduction in delinquency rates.”
Conn's closed on Thursday at $69.82.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in