05-02-02
RTO Online
Morgan Stanley raised its earnings estimates for Rent-A-Center for 2002 and
2003 as a result of the better than expected Q1 results.
The investment bank raised its Rent-A-Center 2002 forecast to $4.40 per share
from its earlier estimate of $3.85. Rent A Center beat Morgan Stanley's Q1 2002
estimate by 20 cents!
Morgan Stanley also raised its 2003 earnings estimate for Rent-A-Center to
$5.05 a share. Up from earlier estimates of $4.30.
According to Morgan Stanley, "We believe that cost control and same-store
sales momentum should continue to support EPS upside for the balance of 2002".
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