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Fly News Breaks for March 21, 2017
PGR
Mar 21, 2017 | 09:31 EDT
As previously reported, Sandler O'Neill upgraded Progressive to Buy from Hold and raised its price target to $45 from $40. Analyst Tom Shimp said the auto insurance market pricing is increasing at a mid-single digit pace and believes it will accelerate from here. The analyst also said Progressive has raised rates early enough and fast enough to reach price adequacy before most of its peers.