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.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PRG:
- Prog Holdings sees Q2 EPS 65c-75c, consensus 69c
- Prog Holdings raises FY24 EPS view to $2.85-$3.10 from $2.70-$3.10
- Prog Holdings reports Q1 EPS 91c, consensus 82c
- PRG Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- TD Cowen Says Now Could Be a Good Time to Buy LTO Stocks; Here Are 2 Names With Solid Growth Potential