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Fly News Breaks for January 5, 2017
PGR
Jan 5, 2017 | 08:39 EDT
As previously reported, Morgan Stanley upgraded Progressive to Equal Weight from Underweight and raised its price target to $36 from $31. Analyst Kai Pan expects core margins to inflect in 2017due to a moderation in new business "drag," easier commercial auto comps in 2H 2017, and sees additional upside from a lower tax rate and rising yield.
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