BofA raised the firm’s price target on Progressive (PGR) to $297 from $289 and keeps a Neutral rating on the shares. Progressive’s 572,000 net personal auto adds in March compared with a surprisingly weak 239,000 in February and the March 2025 month-over-month growth of 2.35% represents the strongest March going back to at least 2002, the analyst tells investors. March results cause the firm to expect an extra 800,000 Progressive personal auto customers at year-end than BofA had previously forecast, the analyst added.
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