Aaron's (AAN) PT Raised to $80 at Raymond James, Lowes Announcement Could Add $30 to Share Price

Raymond James analyst Budd Bugatch raised the price target on Aaron's (NYSE: AAN) to $80.00 (from $72.00) while maintaining a Strong Buy rating after Lowe's rolled-out the Aaron's/Progressive virtual lease-to-own program in its stores, nationwide.

The analyst believes that "this will be a terrific win for Progressive and create much value for Aaron's. In fact, if anything near our incremental ~$2.30+ out-year EPS guess materializes, then -- at a 13 times historical median multiple -- we can envision ~$30 in permanent incremental share value".

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