UPDATE: BofA Securities Starts Rent-A-Center (RCII) at Buy, Lease to Own Could Should Spur Growth

August 25, 2021 6:03 AM EDT
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Price: $57.45 +1.13%

Rating Summary:
    12 Buy, 2 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 16 | Down: 18 | New: 32
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(Updated - August 25, 2021 9:09 AM EDT)

BofA Securities analyst Jason Haas initiates coverage on Rent-A-Center (NASDAQ: RCII) with a Buy rating and a price target of $85.00 after the company’s acquisition of Acima positions RCII to see accelerated growth as the strong #2 competitor in the high-growth virtual lease-to-own (LTO) industry.

The analyst stated "Of the 40 largest retailers selling big ticket products like furniture and appliances, just 10 currently offer a lease-to-own financing option. We think many more could roll out programs in the coming years given the success of early adopters of virtual LTO technology."

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 $64.95 yesterday.

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