Jefferies Downgrades Aaron's (AAN) to Hold

Jefferies analyst John Hecht downgraded Aaron's (NYSE: AAN) from Buy to Hold with a price target of $10.10 (from $11.00).

The analyst comments: "Prior to the announcement of the acquisition our price target for AAN was $11.00/share. Given the approval of the acquisition by AAN's Board of Directors, and considering the offer is within 10% of our PT, we downgrade AAN to "Hold" and reset our price target at $10.10/share."

For an analyst ratings summary and ratings history on Aaron's click here. For more ratings news on Aaron's click here.

Shares of Aaron's closed at $9.98 yesterday.

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