Rent-A-Center earnings forecast reduced at Loop Capital

Loop Capital analyst Anthony Chukumba keeps his Buy rating and $30 price target on Rent-A-Center, though he lowers the company’s projected EPS for 2023 to $3.20 from $4.24. The analyst cites his adjusted expectations in macro conditions, though he maintains his view that the current headwinds in the lease-to-own industry are temporary. Chukumba sees some "silver linings" such as sustained employment market strength and falling gasoline prices emerging.