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PGR

Progressive

$61.70

-0.74 (-1.19%)

09:12
05/15/18
05/15
09:12
05/15/18
09:12

Progressive shares could top $100 in next 12 months, says William Blair

William Blair analyst Adam Klauber says "rising secular tailwinds" should push Progressive's earnings "materially higher" than expectations. The impact of accelerating bundling should result in the company's earnings per share more than doubling from $2.50 in 2017 to the $5.50 to $6.00 range in 2019, Klauber tells investors in a research note. He notes that the consensus earnings estimate for 2019 is only at $3.97. The benefits of bundling expanding, like higher premium levels and growing invested assets, are just beginning to manifest and do not appear to be reflected in the stock price, the analyst contends. He thinks Progressive shares could reach $100-plus in the next 12 months. The stock closed yesterday at $61.72.

PGR Progressive
$61.70

-0.74 (-1.19%)

01/25/18
UBSW
01/25/18
NO CHANGE
Target $64
UBSW
Buy
Progressive estimates look too low, says UBS
UBS analyst Brian Meredith noted tax reform concerns surrounding the active oversight of insurance rates, such as personal auto, could put downward pressure on pricing. The analyst said Progressive shares are more than discounting the potential margin pressure and he believes estimates appear too low. Meredith reiterated his Buy rating and raised his price target to $64 from $63 on Progressive shares.
01/25/18
JANY
01/25/18
NO CHANGE
JANY
Buy
Janney surprised by severity of negative reaction after Progressive report
Janney Capital analyst Robert Glasspiegel recognizes that investors have concerns about the personal auto space, but he was still surprised by the severity of the negative reaction in Progressive shares yesterday as he views the December results favorably. The analyst, who said he remains confident that Progressive will continue to deliver superior growth and profitability, keeps a Buy rating on the stock, which fell 3% yesterday to close at $55.33.
01/25/18
WBLR
01/25/18
NO CHANGE
WBLR
Progressive current worries likely overblown, says William Blair
William Blair analyst Adam Klauber attributes the recent weakness in shares of Progressive to cyclical concerns, the California Commissioner's comments on taxes, and also a "blip" in the loss ratio. However, recent data suggest rate increases remain high, and the potential for California to reduce rates materially is small, Klauber tells investors in a research note. The analyst sees limited downside risk in the shares and believes the current worries are likely overblown. Klauber points out that a multiple of 18 times his 2018 operating earnings estimate suggests a stock price of $71, which is nearly 30% above the current price. He keeps an Outperform rating on Progressive.
03/27/18
MKMP
03/27/18
NO CHANGE
Target $70
MKMP
Buy
Progressive price target raised to $70 from $65 at MKM Partners
MKM Partners analyst Harry Fong raised his price target on Progressive to $70 after the company's February earnings, noting continued increase in the personal auto policies count and a strong growth in its direct channel of over 14%. Fong adds that the company's auto insurance growth rate is "very impressive" and that the company's underwriting performance is also "excellent". The analyst keeps his Buy rating on Progressive.

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$NYE

NYSE Market Internals

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Alphabet

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5.5 (0.47%)

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7.89 (0.68%)

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$1,172.67

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MLHR

Herman Miller

$37.30

0.2 (0.54%)

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Tilray

$291.69

136.7 (88.20%)

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FXI

iShares China Large-Cap ETF

$42.67

0.885 (2.12%)

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Bullish short-term option play opened in iShares Large Cap China Fund »

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Canadian National

$85.79

-1.675 (-1.92%)

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Canadian Pacific

$205.55

-1.41 (-0.68%)

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CNI

Canadian National

$85.79

-1.675 (-1.92%)

CP

Canadian Pacific

$205.55

-1.41 (-0.68%)

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UBS consumer goods analyst to hold an analyst/industry conference call »

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TLRY

Tilray

$261.68

106.69 (68.84%)

14:52
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RHT

Red Hat

$141.62

-1.17 (-0.82%)

14:49
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14:49
Options
Red Hat options imply 12.8% move in share price post-earnings, above median historical move »

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HKMPY

Hikma

$0.00

(0.00%)

14:47
09/19/18
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14:47
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14:47
Conference/Events
Hikma has a conference call hosted by JPMorgan »

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MS

Morgan Stanley

$49.09

1.22 (2.55%)

14:45
09/19/18
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14:45
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Options
Morgan Stanley call volume above normal and directionally bullish »

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FB

Facebook

$162.94

2.63 (1.64%)

14:42
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Facebook user terms not yet in line with EU consumer laws, Reuters says »

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IPSEY

Ipsen

$0.00

(0.00%)

14:40
09/19/18
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14:40
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14:40
Conference/Events
Ipsen has a conference call hosted by JPMorgan »

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SIEN

Sientra

$23.85

-0.3 (-1.24%)

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SEC charges Sientra, former CEO with misleading investors »

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DRE

Duke Realty

$28.36

-0.35 (-1.22%)

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HXGBY

Hexagon AB

$0.00

(0.00%)

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Conference/Events
Hexagon AB management to meet with RBC Capital »

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WMB

Williams

$28.14

0.05 (0.18%)

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NEPT

Neptune Technologies

$4.93

0.675 (15.86%)

14:25
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Options
Neptune Technologies call volume above normal and directionally bullish »

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BABA

Alibaba

$162.44

5.8 (3.70%)

14:18
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Alibaba analyst commentary  »

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$NSD

NASDAQ Market Internals

$0.00

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$NYE

NYSE Market Internals

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SPOT

Spotify

$169.33

-6.1 (-3.48%)

14:16
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Spotify accused of ' fostering a negative work culture for women,' Verge says »

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BABA

Alibaba

$162.49

5.85 (3.73%)

14:13
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09/19
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Alibaba no longer plans to bring 1M jobs to U.S. in wake of trade war, CNBC says »

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