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.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on PGR:
- Progressive downgraded to Market Perform from Outperform at BMO Capital
- Progressive Announces Investor Relations Call
- Progressive price target raised to $124 from $111 at Citi
- EverQuote downgraded to Perform Oppenheimer following Progressive miss
- Progressive price target lowered to $163 from $167 at Evercore ISI
