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Fly News Breaks for November 28, 2018
PGR
Nov 28, 2018 | 09:07 EDT
MKM Partners analyst Harry Fong kept his Buy rating and $85 price target on Progressive, saying the 14% retreat in its stock price since the company reported results on November 14th is "another opportunity to buy". The analyst says investors are concerned that the "underlying loss cost may be heading higher" because of just one month of data precipitated by Hurricane Michael. Instead, Fong points to the company's 15% growth in personal auto policies in force, which is "well beyond" the industry growth rate of 2%.
News For PGR From the Last 2 Days
PGR
Apr 15, 2024 | 06:22 EDT
Wells Fargo raised the firm's price target on Progressive to $244 from $238 and keeps an Overweight rating on the shares. The firm expected Progressive to trade up more on the strong PIF and margins, but shares should go higher as estimates are revised up. Further, April is another seasonally strong PIF month, so strong growth should continue, Wells said in a research note on Friday.
