Prog Holdings price target raised to $57 from $55 at B. Riley

B. Riley raised the firm’s price target on Prog Holdings (PRG) to $57 from $55 and keeps a Buy rating on the shares. PROG Holdings reported a very strong Q1, with earnings significantly above expectations driven by broad-based profitability improvements across its platform businesses, including resilient leasing performance, better-than-expected contributions from Purchasing Power, and a meaningful reduction in losses within its Other segment as MoneyApp showed improving trends, reinforcing the company’s ability to develop and scale incremental fintech products, the analyst tells investors in a research note.