Jefferies cuts PT on Conn's Inc, shares fall

Conn's

30/03/2022 18:47

** Shares of home goods retailer  CONN.O  down 9.18% at
$17.22 
    ** Jefferies slashes PT on CONN stock to $24 from $29;
maintains "buy" rating
    ** Brokerage says CONN missed Q4 profit estimates as its
revenue missed expectations by 2%
    ** Macro environment is weighing on sales - Jefferies
    ** Says recent acquisition of an LTO platform and changes in
revenue accounting will weigh on 2023 and 2024 profits but will
add to earnings before interest and tax in 2025 
    ** Digital infrastructure upgrade planned by CONN may cause
near-term e-commerce disruptions, brokerage adds 

 (Reporting by Sohini Podder in Bengaluru)
 ((sohini.podder@thomsonreuters.com))