B. Riley analyst Hal Goetsch initiated coverage of Prog Holdings (PRG) with a Buy rating and $50 price target which represents nearly 70% potential upside from current levels. The firm says Prog has a portfolio of offerings that provide payment, borrowing, and purchase options for consumers served poorly by traditional banks. The shares are “materially mispriced” due to the company’s easing compares, the rapid growth of buy now pay later, and the accretive acquisition of Purchasing Power, the analyst tells investors in a research note.
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Read More on PRG:
- Mixed Investor Reactions and Divergent EPS Projections Lead to Hold Rating for PROG Holdings
- Strategic Acquisition of Purchasing Power Boosts PRG Holdings’ Market Position and Growth Prospects
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- Prog Holdings to acquire Purchasing Power for $420M in cash
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