PRA Group price target raised to $35 from $33 at JMP Securities

JMP Securities raised the firm’s price target on PRA Group (PRAA) to $35 from $33 and keeps an Outperform rating on the shares. Following a strong recovery in valuations during the second half of 2024 among the firm’s Consumer Finance and Consumer FinTech stocks, including many instances of material market outperformance, the volatility and selloff of the past few weeks has raised the bar and the macro backdrop remains quite positive, the analyst tells investors in a research note. The firm sees opportunities in secular growth in digital lending, including the growing market share of Buy Now Pay Later purchases, as well as secular growth in digital remittance.