Aaron’s price target raised to $12 from $8 at Truist

Truist analyst Scot Ciccarelli raised the firm’s price target on Aaron’s to $12 from $8 and keeps a Hold rating on the shares as part of a broader research note on Hardlines/Broadlines Consumer names. Retail could be poised for solid outperformance for FY24 following slight and rare underperformance in FY23 despite investor concerns over inflation and higher interest rates as consumers continue to spend, especially if the Fed is at/near the end of their tightening cycle, the analyst tells investors in a research note. Truist adds however that the stock’s current valuation provides limited incremental upside.