Progyny price target lowered to $21 from $22 at BofA

BofA lowered the firm’s price target on Progyny (PGNY) to $21 from $22 and keeps a Buy rating on the shares. Q3 results highlight ongoing pressure from an unfavorable utilization mix, with limited line of sight into when such dynamics may change, but while the firm acknowledges that utilization trends create some uncertainty, overall it remains optimistic on the fertility end-market and Progyny’s market leading position, the analyst tells investors.