Citizens JMP boosted its price target on Pagaya Technologies (NASDAQ: PGY) to $25.00 from $22.00. The firm maintained its "market outperform" rating. This new target suggests a potential upside of over 41% from the stock's current price.
The firm cited confidence in Pagaya's business model and its expansion into new products. Analysts highlighted traction in the company's auto lending and non-second-look underwriting offerings, which are expected to become a larger portion of its business. This diversification follows a strong second-quarter performance where Pagaya surpassed Wall Street's earnings and revenue forecasts.