Progyny price target raised to $25 from $21 at BofA

BofA analyst Allen Lutz raised the firm’s price target on Progyny (PGNY) to $25 from $21 and keeps a Buy rating on the shares. The firm argues that the set-up for Progyny is “much better in 2025” as Street expectations have been reset while shares trade at the low end of the company’s historic multiple range. If Progyny can execute in 2025, the firm sees the potential for multiple expansion over the course of the year, adds the analyst, who raised the multiple the firm applies to its estimates to reflect incremental confidence in execution.