As previously reported, Raymond James upgraded Progressive to Strong Buy from Outperform and increased its price target to $52 from $45. Analyst Gregory Peters believes Progressive will continue to grow net premiums written at a double digit pace through 2017 and is well positioned to benefit from emerging smartphone technology to monitor and price for distracting driving over the next 24 months. He expects up to 15% of the personal auto business could begin to report up to 20% decline in risky driving habits over the next 18 months, resulting in improving underwriting margins.