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

ON Semiconductor: Buy

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