Conn’s price target lowered to $9 from $13 at Stephens

Stephens analyst Vincent Caintic lowered the firm’s price target on Conn‘s to $9 from $13 and keeps an Equal Weight rating on the shares. He expects retail sales and credit to remain challenged in a recession and doesn’t see a material inflection point until fiscal Q2 of FY24 and positive earnings returning until fiscal Q2 of FY25, Caintic tells investors.