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Loop Capital's Initiation Run Provides One Buy Out Of 6

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Loop Capital's Initiation Run Provides One Buy Out Of 6

Analysts at Loop Capital initiated coverage of a handful of stocks on Tuesday. Here is a look at six of those names, only one of which was initiated with a Buy rating.

ON Semiconductor: Buy

  • ON Semiconductor Corp (NASDAQ: ON) was initiated with a Buy rating and a $16 price target.
  • The analysts are positive on the company following its acquisition of Fairchild.
  • Specifically, the acquisition will provide much needed pricing power, increase in scale, broader product offerings and the ability to achieve long-term financial targets.

Texas Instruments: Hold

  • Texas Instruments Incorporated (NASDAQ: TXN) was initiated with a Hold rating and a $71 price target.
  • The analysts expect the company to gain market share in 2017 and 2018, but most of this is already priced into the stock.

Aaron's: Hold

  • Aaron's, Inc. (NYSE: AAN) was initiated with a Hold rating and $30 price target.
  • The analysts cited continued weakness in the company's core business.
  • The analysts added that investors are likely overestimating Progressive's long-term potential.
  • The analysts believe that the stock's current valuation is appropriate.

Office Depot: Hold

  • Office Depot Inc (NASDAQ: ODP) was initiated with a Hold rating and a $5 price target.
  • The analysts cited ongoing secular and competitive concerns following the termination of a proposed merger.
  • The analysts added headline risk surrounding the departure of the company's CEO and chairman Roland Smith.

Rent-A-Center: Hold

  • Rent-A-Center Inc (NASDAQ: RCII) was initiated with a Hold rating and $11 price target.
  • The analysts believe that the company's secular and operational woes are well understood by the market.
  • The stock deserves to trade at a discount to other "secularly challenged" retailers.

Staples: Hold Rating

  • Staples, Inc. (NASDAQ: SPLS) was initiated with a Hold rating and a $10 price target.
  • The emergence of Amazon.com, Inc. (NASDAQ: AMZN)'s Amazon Business merely adds to the ongoing secular and competitive concerns.

Latest Ratings for AAN

DateFirmActionFromTo
Sep 2018MaintainsBuyBuy
Sep 2018MaintainsOverweightOverweight
Jul 2018MaintainsBuyBuy

View More Analyst Ratings for AAN
View the Latest Analyst Ratings

Posted-In: Analyst Color Long Ideas News Price Target Initiation Analyst Ratings Movers Trading Ideas Best of Benzinga

 

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