Morgan Stanley analyst Bob Huang raised the firm’s price target on Progressive (PGR) to $330 from $320 and keeps an Overweight rating on the shares. The firm is updating its price targets on stocks under its coverage in the P&C Insurance sector, the analyst tells investors. Results were somewhat mixed depending on the segments, but the firm sees further growth and margin expansion in personal lines, which should be durable in 2025. Heading into 2025, the firm expects broader P&C trend to remain steady, with personal lines and brokers leading on the earnings growth front.
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Read More on PGR:
- Progressive Holds Annual Shareholders Meeting, Approves Key Decisions
- Progressive price target raised to $328 from $324 at Wells Fargo
- Progressive’s Strategic Resilience Amid Tariff Challenges and Advertising Commitment Fuels Positive Outlook
- Progressive Corp’s Earnings Call: Strong Growth Amid Challenges
- Progressive’s Strategic Growth and Resilience Justify Buy Rating Amid Competitive Landscape
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