Aaron’s price target raised to $10.10 from $8 at Truist

Truist analyst Scot Ciccarelli raised the firm’s price target on Aaron’s to $10.10 from $8 and keeps a Hold rating on the shares after the company’s announcement that it has entered into a definitive agreement to be acquired by IQVentures for $10.10 a share. Aaron’s was challenged by a difficult economic environment for its core lower-income consumers even as a strong employment cycle limited the amount of trade-in activity into their lease-to-own model, and the acquisition by IQVentures may enable the company to continue its omni-channel strategy and strengthen its finances away from the public light, the analyst tells investors in a research note.