Morgan Stanley lowered the firm’s price target on Progressive (PGR) to $275 from $280 and keeps an Equal Weight rating on the shares. The firm slightly increased its 2025, 2026 and 2027 EPS forecasts after June results, but slightly lowers its price target due to softening insurance cycle and market conditions, intensifying auto competition, and near-term growth headwinds.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PGR:
- Progressive price target lowered to $281 from $288 at BMO Capital
- Cautious Outlook for Progressive: Hold Rating Amid Competitive Market and Growth Deceleration
- Starbucks downgraded, Oracle initiated: Wall Street’s top analyst calls
- Progressive’s Strong Financial Performance and Growth Potential Justifies Buy Rating
- Progressive price target lowered to $268 from $290 at Keefe Bruyette