Progressive price target lowered to $208 from $210 at Keefe Bruyette

Keefe Bruyette lowered the firm’s price target on Progressive (PGR) to $208 from $210 and keeps a Market Perform rating on the shares. The firm is assuming faster premium and investment income growth and lower catastrophe and expense ratios, partly offset by a higher core loss ratio and share count, the analyst tells investors in a research note.