Canaccord Genuity Reiterates a 'Buy' on Rent-A-Center (RCII); Underappreciated

May 4, 2012 11:22 AM EDT
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Price: $10.39 --0%

Rating Summary:
    6 Buy, 8 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Canaccord Genuity reiterates a 'Buy' on Rent-A-Center (NASDAQ: RCII) price target of $50.00.

Analyst, Laura Champine, said, "Our FY12 EPS forecast remains unchanged at $3.19, which is the high consensus estimate. Based on the updated per-store data, we are raising our FY13 EPS estimate to $3.84 from $3.69, which was already the high on the Street. Our estimates have never reflected the potential upside of partnerships with major consumer electronics and appliance chains, and the discontinuation of the Best Buy test does not impact our long-term growth projections. We believe RAC Acceptance is a significant long-term growth catalyst that is underappreciated on the Street."

For an analyst ratings summary and ratings history on Rent-A-Center click here. For more ratings news on Rent-A-Center click here.

Shares of Rent-A-Center closed at $34.54 yesterday.

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