Upbound Group price target lowered to $35 from $40 at Raymond James

Raymond James analyst Bobby Griffin lowered the firm’s price target on Upbound Group (UPBD) to $35 from $40 and keeps an Outperform rating on the shares. Upbound’s Q1 was “strong,” with results above expectations, driven by higher than expected revenue, the analyst tells investors in a research note. While Rent-A-Center’s same-store lease portfolio continues to face some year over year pressure from decision tightening actions, lease charge-offs are down y/y and sequentially indicating management is managing the business well in a challenging backdrop, the firm says.