BofA lowered the firm’s price target on Progressive (PGR) to $315 from $329 and keeps a Buy rating on the shares. Progressive missed the firm’s net investment income forecast of $332M with $311M, which is “a mere” 3c per share EPS headwind, but reduces the firm’s core EPS forecast when multiplied over 12 months, the analyst tells investors.
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Read More on PGR:
- Progressive price target lowered to $230 from $237 at Evercore ISI
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