Progyny price target lowered to $17 from $30 at Barclays

Barclays analyst Stephanie Davis lowered the firm’s price target on Progyny (PGNY) to $17 from $30 and keeps an Overweight rating on the shares. The stock dropped 11% post the earnings call as better than feared selling season results were overshadowed by the third consecutive cut on atypical usage, sowing model fears, the analyst tells investors in a research note. The firm looks to proof points of forecasting, but notes a more prudent approach to the company’s guidance.