Prog Holdings price target raised to $35 from $31 at Loop Capital

Loop Capital analyst Anthony Chukumba raised the firm’s price target on Prog Holdings to $35 from $31 and keeps a Hold rating on the shares. The company’s Q1 results were a pleasant surprise, particularly given continued weakness in furniture, appliance, and consumer electronics demand, the analyst tells investors in a research note. Progressive’s Q1 2024 results also indicate that the management is doing a good job of “controlling what it can control” as it waits for the U.S. macroeconomic environment to turn into a tailwind, the firm added.