Jefferies Starts Pagaya Tech (PGY) at Buy

Jefferies analyst John Hecht initiates coverage on Pagaya Tech (NASDAQ: PGY) with a Buy rating and a price target of $2.50.

The analyst comments "We are initiating coverage of PGY with a Buy rating and a $2.50 price target. PGY is a Fintech leader in the business-to-business-to-consumer (B2B2C) space in addition to being the largest and most frequent issuer of personal loan ABS (3Q23) and a top 10 auto subprime issuer through its unique pre-funded ABS model. We believe Pagaya's powerful network effect and product flywheel have positioned the company for ongoing success."

For an analyst ratings summary and ratings history on Pagaya Tech click here. For more ratings news on Pagaya Tech click here.

Shares of Pagaya Tech closed at $1.39 yesterday.

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