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.
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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
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