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Business · Stock markets · published 2026-10-11 · via Tikr

Jefferies Keeps Buy on PROG Holdings Despite 30% Slide

Image via Tikr
Image via Tikr

PROG Holdings has fallen 30% over three months, and Jefferies lowered its price target to $50 while maintaining a Buy rating. The new target is 65% above the Oct. 7 close, but credit concerns remain after leasing write-offs reached 8.4% of leasing revenue in Q2 and a short seller criticized underwriting. The stock trades at 6.1x forward earnings, below its five-year average of 9.6x.

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EXPANDED:

PROG Holdings fell 30% over three months. On July 29, it reported Q2 adjusted EPS of $1.19, up 19%, and raised 2026 guidance to $4.75–$5.00 from $4.40–$4.80. The shares still declined as investors focused on credit.

Progressive Leasing write-offs reached 8.4% of leasing revenue. CFO Brian Garner said the full-year rate should stay within the 6%–8% target, though near the top. On Oct. 7

Expanded detail and Context are AI-generated analysis; the linked article remains the authoritative source.
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This summary is Al-enhanced to contain extended analysis and broader social context. The original is {NAME); the linked article is the authoritative source. Original headline: “PROG Holdings Has Lost 30% in 3 Months: Jefferies Sees 65% Upside.” Browse more stories.