Progressive price target raised to $202 from $192 at Citi

Citi raised the firm’s price target on Progressive to $202 from $192 and keeps a Neutral rating on the shares. The company reported another solid beat in February, with historically low auto insurance underlying loss ratios and accelerating policy count growth, the analyst tells investors in a research note. The firm questions what Progressive’s growth looks like when more competitors increase appetites, which it expects given the “blunt momentum behind auto pricing.”