Progyny upgraded to Buy from Hold at Truist

Truist analyst Jailendra Singh upgraded Progyny (PGNY) to Buy from Hold with a price target of $34, up from $28. Demand remains resilient outside of Amazon (AMZN), and concerns around ProgynyRx are increasingly seen as a cash-pay versus covered-benefit mismatch, the analyst tells investors in a research note. The company’s conservative guidance approach improves visibility and reduces the risk of surprises, Truist says.