Progressive price target raised to $218 from $215 at Wells Fargo

Wells Fargo analyst Elyse Greenspan raised the firm’s price target on Progressive (PGR) to $218 from $215 and keeps an Equal Weight rating on the shares. The firm says shares outperformed despite a miss on both growth and underlying loss ratio as it believes is more reflective of positioning. Exiting the seasonally growth months post April, Wells sees limited catalysts for the stock.