Goldman Sachs analyst Robert Cox lowered the firm’s price target on Progressive (PGR) to $303 from $307 and keeps a Buy rating on the shares. The firm is adjusting its model as it has decreased its estimate for PIF – policies in force- growth by one percentage point to 12.5% which largely reflects the miss in May and a 5% decrease in its expectation for both advertising and advertising efficiency in 2025-2026, the analyst tells investors in a research note.
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