Wells Fargo analyst Elyse Greenspan lowered the firm’s price target on Progressive (PGR) to $246 from $266 and keeps an Equal Weight rating on the shares. The firm notes shares traded down on the combination of slowing personal auto PIF growth and a weaker underlying loss ratio in September.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PGR:
- Progressive price target lowered to $301.38 from $312 at Citi
- Progressive price target lowered to $262 from $270 at Keefe Bruyette
- Progressive’s Strong Performance and Future Momentum Despite Near-Term Challenges
- Morning Movers: BofA, Morgan Stanley jump following Q3 results
- Progressive reports Q3 EPS $4.45, consensus $5.05