KeyBanc analyst Scott Schoenhaus lowered the firm’s price target on Progyny (PGNY) to $28 from $32 to reflect lowered estimates, while keeping an Overweight rating on the shares. The firm notes the company reported strong results, ending the year with another beat. The question now is whether 2026 will be the setup of 2024, where utilization suddenly slows or the setup of 2025, where utilization beats expectations. KeyBanc thinks Progyny should enjoy favorable utilization even if member base decelerates in the near term.
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