Wells Fargo upgraded Progressive to Overweight from Equal Weight with a price target of $176, up from $144. The firm believes Progressive should return to PIF growth in 2024. November saw a continued sequential decline in personal auto PIF as Progressive works to get to its 96% combined ratio target for the year, Wells adds.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on PGR: