Loop Capital raised the firm’s price target on Aaron’s to $10 from $8 and keeps a Hold rating on the shares. The firm cites the company’s announcement that it has entered into a definitive agreement to be acquired by IQVentures for $10.10 a share. Loop adds that while the acquisition multiple seems relatively low, it reflects Aaron’s weak performance over the past several quarters and the company’s ill-timed purchase of BrandsMart. The firm also notes that competing bidders are not likely to emerge.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AAN:
- Aaron’s Company Announces Merger and Shareholder Benefits
- Aaron’s to be acquired by IQVentures for $10.10 per share in cash
- The Aaron’s Company Enters into Definitive Agreement to Be Acquired by IQVentures for $10.10 Per Share
- Aaron’s initiated with a Neutral at BTIG
- Aaron’s Company Announces Investor Presentation and Dividend