Progyny upgraded to Outperform from Market Perform at Citizens

Citizens analyst Constantine Davides upgraded Progyny (PGNY) to Outperform from Market Perform with a $30 price target The firm says a meeting with management increased its conviction in the company’s “moat, retention rates, and new solution potential.” At current valuation levels, Citizens sees an “asymmetric” risk/reward opportunity. Progyny’s large client loss has proven to be an isolated event while its new products are starting their ramp. the analyst tells investors in a research note.