BofA raised the firm’s price target on Progressive (PGR) to $347 from $344 and keeps a Buy rating on the shares. Noting that the Progressive app was downloaded 904,000 times in August, which is 6% more than in August 2024 and the most downloads of any month ever with the exception of an “unusual” March 2025, the firm is taking up its forecast for August net personal auto policycount growth to 284,000. Progressive is “adding more new customers than it ever has before, and, if it can improve retention, growth will accelerate,” the analyst tells investors.
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