** Shares of fintech firm PROG Holdings PRG.N fall as much as 4.1%; last down 3.4% at $28.18
** Jefferies downgrades PRG to "hold" from "buy", as it awaits catalysts from a more favorable environment
** Brokerage says growing evidence of a delayed industry recovery along with PRG's exposure to challenged retail segments and mixed credit trends dampens its recovery thesis
** Says it was anticipating some signals that lower-income Americans would accelerate discretionary spending after over two years of constrained activity, but it is yet to see it manifest at this point
** Jefferies cuts PRG PT to $29 from $58, a 0.6% downside to stock's last close
** Last week, PRG forecast annual adjusted EPS and revenue below Wall Street expectations amid higher delinquencies and growth headwinds
** Five of seven brokerages rate the stock "buy" or higher and two "hold"; their median PT is $44, according to data compiled by LSEG
** As of last close, PRG stock down 31% YTD
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.