PROG Holdings Faces Downgrade Amid Concerns Over Declining Gross Merchandise Volume
Portfolio Pulse from Nabaparna Bhattacharya
Loop Capital Markets analyst Anthony Chukumba downgraded PROG Holdings, Inc. (NYSE:PRG) to Hold from Buy, with a price target of $34, due to concerns over declining gross merchandise volume (GMV) and potential macroeconomic pressures on the company's core low-income customer base.
June 05, 2023 | 7:27 pm
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NEGATIVE IMPACT
PROG Holdings downgraded to Hold from Buy by Loop Capital Markets analyst, with a price target of $34, due to concerns over declining GMV and potential macroeconomic pressures on the company's core low-income customer base.
The downgrade by Loop Capital Markets analyst Anthony Chukumba is based on concerns over declining gross merchandise volume (GMV) and potential macroeconomic pressures on the company's core low-income customer base. This negative outlook is likely to have a short-term negative impact on PRG's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100