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

Truist 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 previewing 2024 in Hardlines/Broadlines retail. The group could be poised for a solid outperformance for FY24, following slight and rare underperformance in FY23 as consumers continue to spend despite investor concerns over inflation and higher rates, and if the Fed is at or near the end of tightening, investors will lean into consumer-centric growth stocks, the analyst tells investors in a research note. The firm adds however that it remains cautions on the company for next year as many of the current macro pressures facing its core, low-income consumer base seem likely to persist.