BMO Capital keeps an Outperform rating and $230 price target on Allstate (ALL) but notes that the company’s April policies-in-force, PIF, growth metric was shy of expectations considering seasonality. April is Progressive’s (PGR) third-strongest PIF month, likely owing to tax refunds, the analyst tells investors in a research note, adding however that the firm expects organic policy count growth to beat expectations in the coming years.
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