They cut their target from $88 to $60 in the late morning. These analysts were just like the BBY analysts in 2013 then both stocks got killed after big runs. They actually pay these guys and gals handsomely. What amazes me is that back in September CONN's got a big haircut for similar reasons with the credit issues and the market still ran the stock back up to $80 in late 2013. The pump and dump never gets old with WS.
Since ever rise in 1 full basis point in deliquincies equates to $.30 cut in eps...a 0.3% increase means eps gets reduced by $.033 which means a downward revision of only $.10......less than 3% eps cut forthe year. Hmmmmm oversold????