PROG Holdings price target lowered to $31 from $33 at Loop Capital

Loop Capital analyst Anthony Chukumba lowered the firm’s price target on PROG Holdings to $31 from $33 and keeps a Hold rating on the shares. The firm maintains its view that Progressive management is doing an excellent job “controlling what it can control,” but also sees the company’s 2024 guidance as disappointing, largely driven by an expectation of a continuation of weak Gross Merchandise Volume trends, the analyst tells investors in a research note.