PRA Group price target raised to $24 from $23 at Citizens JMP

Citizens JMP analyst David Scharf raised the firm’s price target on PRA Group (PRAA) to $24 from $23 and keeps an Outperform rating on the shares. PRA Group reported Q2 results that included normalized EPS below the firm’s forecast, but Citizens did not hear anything to suggest any directional changes to the messaging from 90 days ago, the analyst tells investors in a research note. The company is operating within a “sweet spot” in the purchasing and collections cycle, Citizens says.