Progressive price target raised to $312 from $298 at BofA

BofA raised the firm’s price target on Progressive (PGR) to $312 from $298 and keeps a Buy rating on the shares. March operating EPS of $1.51 came in below the firm’s $1.62 forecast, but in-line to ahead of consensus from VisibleAlpha and Bloomberg, the analyst tells investors. Interpolating the March numbers lowers the firm’s FY26 forecast, but a slightly higher projection of share repurchases at a slightly lower price for shares lifts the firm’s “high-on-the-Street out-year forecasts by a dime each,” the analyst added.