Roth MKM raised the firm’s price target on Progressive (PGR) to $315 from $290 and keeps a Buy rating on the shares after its January results. Total personal auto policies-in-force grew 22% Y/Y in January, roughly the same level of growth for the past two months, while the company’s overall underwriting remains excellent with a combined ratio of 84.1%, the analyst tells investors in a research note.
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Read More on PGR:
- Progressive price target raised to $317 from $307 at Morgan Stanley
- Positive Outlook for Progressive: Buy Rating Backed by Growth in Auto Policies and Improved EPS Forecast
- Progressive’s Strong Start to 2025 Drives Buy Rating from Elyse Greenspan
- Progressive reports January EPS $1.90 vs. $1.18 last year
- Progressive price target raised to $264 from $261 at Barclays