Progressive price target raised to $235 from $215 at Roth MKM

Roth MKM raised the firm’s price target on Progressive to $235 from $215 and keeps a Buy rating on the shares. The firm is citing the company’s “excellent” February results, with an overall combined ratio of 86.8% that is well below its long-term goal of 96% and personal auto policies-in-force increasing 6.5% year-over-year and 1.3% sequentially, the analyst tells investors in a research note.