Keefe Bruyette lowered the firm’s price target on Progressive (PGR) to $268 from $290 and keeps a Market Perform rating on the shares. The firm expects near-term core loss ratio pressure from normalizing frequency benefits and low earned rate increases, the analyst tells investors in a research note.
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Read More on PGR:
- Progressive downgraded to In Line from Outperform at Evercore ISI
- Progressive price target lowered to $336 from $337 at BofA
- Progressive’s Strong Q2 Performance and Growth Prospects Justify Buy Rating
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- Progressive reports Q2 EPS $5.40, consensus $4.29