Sterne Agee Reiterates Buy and PT of $36 on Rent-A-Center

Sterne Agee reiterated its Buy rating on Rent-A-Center RCII. at the same time, Sterne Agee left its price target on the company's stock unchanged at $36. In a research report published today, Sterne Agee states, "Reiterating Buy. Our 12-month target is $36 but we believe RCII shares have the potential to reach $45 over the next two years, which assumes a forward P/E of 15x for RAC Acceptance and 10x for the core business." In today's trading RCII lost 3.91% of its value to trade around $27.49.