PROG Holdings, the Industrials sector company, was revisited by a Wall Street analyst today. Analyst Hoang Nguyen from TD Cowen maintained a Buy rating on the stock and has a $41.00 price target.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Hoang Nguyen has given his Buy rating due to a combination of factors, primarily focusing on PRG Holdings’ strategic acquisition of Purchasing Power. This acquisition is expected to enhance PRG’s market position in non-prime financing by integrating a platform that allows employees to purchase products and services through payroll deductions, thereby expanding PRG’s reach to over 7 million employees.
Nguyen notes that while there is limited customer overlap between PRG’s existing leasing business and Purchasing Power, this is seen as advantageous. The acquisition is anticipated to drive growth, as Purchasing Power is experiencing faster growth rates compared to PRG’s current operations. Consequently, Nguyen has adjusted the EPS estimates for 2025 and 2026, reflecting a positive outlook on the company’s future financial performance, which supports the increased price target of $41.