Prog Holdings price target raised to $55 from $46 at KeyBanc

KeyBanc analyst Bradley Thomas raised the firm’s price target on Prog Holdings to $55 from $46 and keeps an Overweight rating on the shares after hosting investor meetings with senior management and coming away incrementally positive on the company’s initiatives and revenue growth opportunity in the second half of 2024 and 2025. While many end markets remain challenging, the firm sees positive gross merchandise value trends and continued growth with new and existing retail partners supporting shares. Lastly, KeyBanc sees the American Signature partnership and the evolving retail landscape as netting to neutral-to-positive for Prog Holdings.