Barclays analyst Tracy Benguigui raised the firm’s price target on Progressive to $109 from $107 and keeps an Underweight rating on the shares. The company’s modest reserve releases in July marked the end of its prior six-month streak, the analyst tells investors in a research note. The firm says it is encouraging to see underlying loss ratio improvement quarter-over-quarter.
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>>
See today’s best-performing stocks on TipRanks >>
Read More on PGR: