BofA analyst Joshua Shanker lowered the firm’s price target on Progressive (PGR) to $329 from $334 and keeps a Buy rating on the shares. The firm made no changes to its forecast, but the S&P 500 consensus P/E multiple has fallen and it applies this multiple to its “92%-normalized” combined ratio recast of 2028 EPS at $17.12, the analyst tells investors.
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Read More on PGR:
- Progressive price target lowered to $261 from $300.60 at Citi
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