BUZZ-Pagaya jumps after Citi Research upgrades to 'buy'

Reuters

Feb 08, 2025

** Shares of financial technology company Pagaya Technologies PGY.O jump as much as 16.4%; last up 12.7% at $12.48

** Citi Research upgrades PGY to "buy" from "neutral"; raises PT to $14.50 from $13, a 31% upside to stock's last close

** Brokerage says the stock has been held back owing to recent markdowns on PGY's 2023 loans and expects a final ~$60 million impairment in Q4

** Citi thinks the narrative around PGY improves in 2025 towards a focus on network partner expansion and rising personal loan demand

** Meanwhile, PGY on Thursday unveiled a tieup with alternative asset manager Blue Owl OWL.N, which will buy as much as $2.4 billion of consumer loans through firm's network over a 24-month period

** Eight of nine brokerages rate the stock "buy" or higher and one "hold"; their median PT is $21 — LSEG

** PGY stock slumped 43.9% in 2024

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com))

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last up 12.7% at $12.48</p><p>** Citi Research upgrades PGY to \"buy\" from \"neutral\"; raises PT to $14.50 from $13, a 31% upside to stock's last close</p><p>** Brokerage says the stock has been held back owing to recent markdowns on PGY's 2023 loans and expects a final ~$60 million impairment in Q4 </p><p>** Citi thinks the narrative around PGY improves in 2025 towards a focus on network partner expansion and rising personal loan demand</p><p>** Meanwhile, PGY on Thursday <span>unveiled a tieup</span> with alternative asset manager Blue Owl <span>OWL.N</span>, which will buy as much as $2.4 billion of consumer loans through firm's network over a 24-month period</p><p>** Eight of nine brokerages rate the stock \"buy\" or higher and one \"hold\"; their median PT is $21 — LSEG</p><p>** PGY stock slumped 43.9% in 2024</p><p> (Reporting by Arasu Kannagi Basil in Bengaluru)</p><p> ((ArasuKannagi.Basil@thomsonreuters.com))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"OWL","symbol_name":"Blue Owl Capital Inc.","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250207:nL4N3OY1M0:1","article_id":"2509727529","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2509727529","pubTimestamp":1738953169,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"BUZZ-Pagaya jumps after Citi Research upgrades to 'buy'** Shares of financial technology company Pagaya Technologies PGY.O jump as much as 16.4%; last up 12.7% at $12.48** Citi Research upgrades PGY to \"buy\" from \"neutral\"; raises PT to $14.50 from $13, a 31% upside to stock's last close** Brokerage says the stock has been held back owing to recent markdowns on PGY's 2023 loans and expects a final ~$60 million impairment in Q4 ** Citi thinks the narrative around PGY improves in 2025 towards a focus on network partner expansion and rising personal loan demand** Meanwhile, PGY on Thursday unveiled a tieup with alternative asset manager Blue Owl OWL.N, which will buy as much as $2.4 billion of consumer loans through firm's network over a 24-month period** Eight of nine brokerages rate the stock \"buy\" or higher and one \"hold\"; their median PT is $21 — LSEG** PGY stock slumped 43.9% in 2024  ","collect":0,"end_time":0,"defaultTopTitle":"","property":["rate"],"viewcount":null,"language":"en","relate_stocks":{"OWL":"Blue Owl Capital Inc.","PGY":"Pagaya Technologies Ltd."},"translate_title":"花旗研究部将BUZZ-Pagaya评级上调至“买入”后股价上涨","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"OWL":0.9,"PGY":0.9},"content_text":"BUZZ-Pagaya jumps after Citi Research upgrades to 'buy'** Shares of financial technology company Pagaya Technologies PGY.O jump as much as 16.4%; last up 12.7% at $12.48** Citi Research upgrades PGY to \"buy\" from \"neutral\"; raises PT to $14.50 from $13, a 31% upside to stock's last close** Brokerage says the stock has been held back owing to recent markdowns on PGY's 2023 loans and expects a final ~$60 million impairment in Q4 ** Citi thinks the narrative around PGY improves in 2025 towards a focus on network partner expansion and rising personal loan demand** Meanwhile, PGY on Thursday unveiled a tieup with alternative asset manager Blue Owl OWL.N, which will buy as much as $2.4 billion of consumer loans through firm's network over a 24-month period** Eight of nine brokerages rate the stock \"buy\" or higher and one \"hold\"; their median PT is $21 — LSEG** PGY stock slumped 43.9% in 2024 (Reporting by Arasu Kannagi Basil in Bengaluru) ((ArasuKannagi.Basil@thomsonreuters.com))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}