Roth Capital lowered the firm’s price target on Progressive (PGR) to $290 from $315 and keeps a Buy rating on the shares after its July results. The company’s underwriting results remain “excellent”, benefiting from 2.5 points of favorable loss reserve development, while catastrophe losses were also modest for the month, the analyst tells investors in a research note. The firm is reducing its price target however based on its 18.4-times forward earnings multiple.
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Read More on PGR:
- Progressive price target lowered to $327 from $330 at Wells Fargo
- Progressive price target raised to $344 from $339 at BofA
- Progressive’s Strong Financial Performance and Underwriting Results Justify Buy Rating Despite Short-Term Growth Challenges
- Progressive Releases July 2025 Financial Results
- Progressive reports July EPS $1.85 vs. $1.38 last year