Analyst Elyse Greenspan of Wells Fargo reiterated a Buy rating on Progressive, retaining the price target of $333.00.
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Elyse Greenspan has given her Buy rating due to a combination of factors that highlight Progressive’s strong financial performance and growth potential. The company has demonstrated stronger than expected growth in policies in force (PIF) and maintained robust margins, which are supported by favorable reserve development. These factors contribute to the belief that Progressive can continue to capture market share.
Furthermore, despite recent underperformance in share price, Greenspan sees the stock as attractively valued, trading at a reasonable multiple of the 2026 earnings per share estimate. The company’s year-to-date combined ratio of 86.6% provides it with the flexibility to manage potential cost increases, such as tariffs, without significant impact. Additionally, the upward revision of the 2025 earnings per share estimate, driven by better-than-expected performance and loss ratios, further supports the positive outlook for Progressive’s stock.
In another report released today, Roth MKM also maintained a Buy rating on the stock with a $315.00 price target.
PGR’s price has also changed slightly for the past six months – from $245.540 to $246.460, which is a 0.37% increase.