Loop Capital more optimistic on Upbound Group after investor meetings

Loop Capital keeps a hold rating and $36 price target on Upbound Group after meeting with the company’s senior management during investor meetings. The firm has left the meetings feeling incrementally more optimistic on the company, particularly it’s Acima business, given the ample future gross merchandise volume runway and it’s “long-awaited credit trade down”, the analyst tells investors in a research note. Loop remains at neutral however pending more concrete evidence into Upbound’s improved top-line trends translating to improved profitability, the firm added.