BofA analyst Allen Lutz lowered the firm’s price target on Progyny to $37 from $46 and keeps a Buy rating on the shares. Q Q1 results were “disappointing” and the quarter will likely prompt questions into the visibility of utilization trends and demand for fertility solutions, says the analyst. However, while the firm acknowledges that “some of the near-term trends are worth watching,” it remains confident in the secular growth of fertility solutions and Progyny’s “market leading position,” the analyst tells investors.
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