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Fly News Breaks for May 22, 2018
PGR
May 22, 2018 | 09:26 EDT
MKM Partners analyst Harry Fong raised his price target on Progressive to $75 after its earnings beat last week, saying the stock has "a way to go" in its upside even as some other analysts have backed away from this investment story on valuation. Fong notes that Progressive's outperformance in the P&C Insurance industry should continue as it is still in the early period of growth thanks to the potential of its bundled auto/homeowner's policy as well as the reduction in the total miles driven because of higher gas prices. The analyst keeps his Buy rating on Progressive.
News For PGR From the Last 2 Days
PGR
Mar 28, 2024 | 04:52 EDT
HSBC analyst Vikram Gandhi raised the firm's price target on Progressive to $205 from $174 and keeps a Hold rating on the shares. The analyst says rate increases continue to compound across personal auto and homeowners insurance in the U.S. Decelerating inflationary trends put U.S. personal lines insurers "in a sweet spot," the analyst tells investors in a research note.