Keefe Bruyette analyst Meyer Shields made no change to the firm’s Market Perform rating or $133 price target on Progressive following the publishing of the 10-Q. "Somewhat unsurprisingly," Progressive CEO Tricia Griffith is prioritizing profitability over growth, and indicated that the company is reevaluating policy acquisition costs, including ad spend, the analyst tells investors in a research note.
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Published first on TheFly
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