HSBC raised the firm’s price target on Progressive to $200 from $174 and keeps a Hold rating on the shares. The analyst says rate increases continue to compound across personal auto and homeowners insurance in the U.S. Decelerating inflationary trends put U.S. personal lines insurers “in a sweet spot,” the analyst tells investors in a research note.
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 raised to $190 from $185 at Keefe Bruyette
- Progressive price target raised to $235 from $215 at Roth MKM
- Progressive price target raised to $202 from $192 at Citi
- Progressive reported ‘excellent’ underwriting results, says Roth MKM
- Progressive Corp. Unveils Financial Results for February 2024