Progressive upgraded to Overweight from Equal Weight at Barclays

Barclays upgraded Progressive (PGR) to Overweight from Equal Weight with a price target of $265, up from $257. The firm updated the shares as part of its 2026 outlook for the North America property and casualty Insurance group. Pricing is softening across commercial and reinsurance, while personal lines look relatively better and brokers face organic growth headwinds, the analyst tells investors in a research note. Barclays recommends staying selective. It expects Progressive’s policy-in-force growth, supported by recent rate decreases, to come in above consensus expectations.