Progyny price target lowered to $41 from $51 at JPMorgan

JPMorgan lowered the firm’s price target on Progyny to $41 from $51 and keeps an Overweight rating on the shares. The firm views the company’s Q1 report as “disappointing” but believes its second half of 2024 guidance is conservative enough, assuming April improvements are sustained. However, any incremental volatility could potentially render the guide too high, the analyst tells investors in a research note. The firm continues to like Progyny’s long term opportunity for growth, and would be opportunistic on the pullback with a long term view.