Prog Holdings price target raised to $31 from $27 at BTIG

BTIG analyst Vincent Caintic raised the firm’s price target on Prog Holdings (PRG) to $31 from $27 and keeps a Sell rating on the shares. The sell-off in shares after earnings was surprising as Q3 was a relief on the credit side and given the additional disclosures about the rapidly growing Four Buy Now Pay Later business, the analyst tells investors in a research note. Management’s commentary on underlying Lease To Own trends were also positive, though the stock remains one of the most sensitive names in the firm’s coverage group to GMV slowdown from credit deterioration, BTIG added.