PROG Holdings price target lowered to $33 from $38 at Loop Capital

Loop Capital analyst Anthony Chukumba lowered the firm’s price target on PROG Holdings to $33 from $38 and keeps a Hold rating on the shares. The company’s Q3 results came in ahead of the firm’s forecasts, including better-than-expected revenue, profit margins, and diluted earnings, but while the management is doing an excellent job “controlling what it can control,” with GMV remaining pressured, it is difficult to support the stock’s higher valuation levels, the analyst tells investors in a research note.