Aaron’s price target lowered to $15 from $17 at Jefferies

Jefferies analyst Kyle Joseph lowered the firm’s price target on Aaron’s to $15 from $17 and keeps a Buy rating on the shares. In Q3, the firm anticipates the focus will be on portfolio performance with the evolving macro and potential for a top-line recovery, the analyst tells investors. Jefferies expects the company to continue generating strong free cash flow while stabilizing the top line and expanding EBITDA. The firm reminds investors of the company’s defensive nature and that the business has historically outperformed during periods of worsening consumer credit performance.