Progressive price target raised to $165 from $150 at Roth MKM

Roth MKM analyst Harry Fong raised the firm’s price target on Progressive to $165 from $150 and keeps a Buy rating on the shares. The company missed on January earnings, but the transition back to more normal times is beginning to emerge as net written premiums for the personal auto business increased by 21.9%, continuing the rapid upward movement underway since the third quarter of 2022, the analyst tells investors in a research note.