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Rent-A-Center’s Target, Estimates Boosted at Sterne Agee (RCII)

Posted: 12/23/2010 9:14:00 AM
Referenced Stocks: RCII

Rent-to-own operator Rent-A-Center, Inc ( RCII ) on Thursday saw its price target raised by analysts at Sterne Agee.

The firm said it now expects RCII shares to reach $36, which implies a 13% upside to the stock's Wednesday closing price of $31.88. Sterne also raised its earnings estimates for the company, noting that its recent acquisition of rival The Rental Store should boost earnings, and maintained its "Buy" rating.

Rent-A-Center shares were mostly flat in premarket trading Thursday.

The Bottom Line
Shares of Rent-A-Center ( RCII ) have a .75% dividend yield, based on last night's closing stock price of $31.88. The stock has technical support in the $28 price area. The shares are trading near all-time highs and have little overhead resistance.

Rent-A-Center, Inc ( RCII ) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .