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Fly News Breaks for July 17, 2015
PGR
Jul 17, 2015 | 13:04 EDT
Wells Fargo said Progressive's June operating EPS of 11c missed the firm's 15c estimate and that its Q2 EPS of 53c missed the 55c consensus forecast. The firm attributes the miss to higher than expected catastrophe losses and a weaker underlying margin. The firm keeps a Market Perform rating on the stock while raising its price target range to $29-$31 from $25-$27.
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