Hoang Nguyen, an analyst from TD Cowen, maintained the Buy rating on PROG Holdings. The associated price target was raised to $38.00.
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Hoang Nguyen has given his Buy rating due to a combination of factors including PROG Holdings’ strong financial performance and promising future outlook. The company reported second-quarter earnings per share that exceeded both Nguyen’s and the consensus estimates, driven by higher-than-expected revenues from lease revenues and fees, as well as interest and fees on loans. This strong performance was further supported by better lease performance and lower-than-expected provision for lease merchandise write-offs, indicating favorable early performance trends due to tightened underwriting.
Moreover, management’s increased guidance for 2025, particularly the raised EPS guidance, reflects confidence in the company’s future prospects. The lease portfolio’s solid credit performance and the anticipated easing of GMV comparisons as the company overcomes previous challenges also contribute to this positive outlook. Additionally, the rapid growth and strong unit economics of the Four segment, which is becoming a significant part of the company’s story, further bolster the investment case. These factors collectively justify Nguyen’s Buy rating for PROG Holdings.
According to TipRanks, Nguyen is ranked #8980 out of 9843 analysts.
In another report released on July 15, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $33.00 price target.