Stephens raised the firm’s price target on Upbound Group to $40 from $36 and keeps an Equal Weight rating on the shares. The company’s Q2 results beat consensus and provided a higher 2023 guidance, the analyst tells investors. While there are some concerns about lower EBITDA margins in Q3, given the implied 2H23 guidance, Stephens anticipates a return on marketing and other investments by Q4.
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Read More on UPBD:
- Upbound Group price target raised to $39 from $36 at KeyBanc
- Upbound Group raises FY23 adjusted EPS view to $3.25-$3.55 from $2.70-$3.20
- Upbound Group sees Q3 EPS 70c-80c, consensus 74c
- Upbound Group reports Q2 adjusted EPS $1.11, consensus 75c
- Upbound Group price target raised to $33 from $30 at Loop Capital
