Aaron’s price target lowered to $8 from $11 at Truist

Truist analyst Scot Ciccarelli lowered the firm’s price target on Aaron’s to $8 from $11 and keeps a Hold rating on the shares. The company’s Q3 results were below consensus expectations as trends remained pressured by headwinds facing Aaron’s core customer base and soft demand for consumer electronics, the analyst tells investors in a research note. The company is seeing some evidence of higher income and credit customers trading into its channel, but the impacts “remain very minimal”, the firm added.