Progressive price target raised to $168 from $159 at Jefferies

Jefferies analyst Yaron Kinar raised the firm’s price target on Progressive to $168 from $159 and keeps a Buy rating on the shares as part of the firm’s P&C Insurance and Insurtech space preview for Q1. The firm expects Q1 industry catastrophe losses to be "in-line to slightly above" the seasonal 1Q average, or in the $10B range.