KeyBanc lowered the firm’s price target on Prog Holdings (PRG) to $45 from $50 to reflect lower estimates, while keeping an Overweight rating on the shares. The firm notes Q1 results were better than expected, but consumer trends deteriorated as the quarter progressed. While the uncertain macro outlook is creating significant uncertainty for many, KeyBanc sees valuation as supportive, at 7.4-turns 2026 EPS and an 18.1% free cash flow yield.
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