UBS assumed coverage of Pagaya (PGY) with a neutral rating and $11 price target UBS sees the potential for Pagaya to grow revenue at a compound annual growth rate of 14% between 2025 and 2027, driven by an improving credit environment, growing partner pipeline, increasing portfolio share and increasing loan application conversion, and is encouraged by Pagaya’s average risk retention level will reach 2%-3% of network volume in the third quarter, the analyst tells investors in a research note. While the company believes Pagaya is well positioned to continue gaining share in the consumer lending market with a growing list of lending and financing partners, UBS sees a more balanced risk-reward profile for Pagaya given the uncertainty surrounding the level of credit losses as a result of risks. retention agents.
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