TD Cowen analyst Hoang Nguyen lowered the firm's price target on Prog Holdings to $40 from $43 and keeps a Buy rating on the shares. The firm adjusted price targets in the consumer finance group as part of a Q1 preview. Macro environment uncertainty has increased due to concerns about AI on employment and geopolitics, the analyst tells investors in a research note. TD believes higher gas prices will be a headwind to low-income consumers. Competition has remained elevated in auto lending, adds the firm. Its top picks are Capital One (COF), SLM (SLM) and Affirm (AFRM).
