Credit Suisse has reiterated its “outperform" rating for Thorn Group but decreased its target price to $2.15 from $2.37 as the broker expects fiscal 2012 to be a year of sub-trend growth.

The impact of price deflation in the broader retail PC market on the company’s rental volumes and gross margins, along with ongoing investment in growth initiatives and potential EPS dilution, are cited by the broker as likely causes for the sub-trend growth.