BMO Capital lowered the firm’s price target on Progressive (PGR) to $247 from $252 and keeps a Market Perform rating on the shares after its September results. “Soft” pricing-power conditions are persisting given the industry’s excess profit margin position, and this downward 3% pricing-power trendline has not been fully appreciated by sell-side estimates, the analyst tells investors in a research note.
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Read More on PGR:
- Progressive price target raised to $351 from $350 at BofA
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