Progressive price target raised to $297 from $285 at Wells Fargo

Wells Fargo raised the firm’s price target on Progressive to $297 from $285 and keeps an Overweight rating on the shares. The company reported another strong growth and margin month, with policies in force growth coming in above consensus, the analyst tells investors in a research note. Progressive’s 89.1% year-to-date combined ratio despite Hurricanes Helene/Milton losses positions the company well for balance of the year, the firm added.