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PGR

Progressive

$73.71

-0.215 (-0.29%)

06:08
01/13/20
01/13
06:08
01/13/20
06:08

Progressive downgraded to Outperform from Strong Buy at Raymond James

Raymond James analyst Gregory Peters downgraded Progressive to Outperform from Strong Buy with a price target of $85, down from $93. The analyst believes the lack of pricing power in personal auto insurance and trending loss cost inflation could continue to impact the company's underlying loss ratio and result in "only modest" earnings growth over the intermediate term.

PGR Progressive
$73.71

-0.215 (-0.29%)

12/16/19
MSCO
12/16/19
DOWNGRADE
Target $74
MSCO
Equal Weight
Progressive downgraded to Equal Weight from Overweight at Morgan Stanley
Morgan Stanley analyst Michael Phillips downgraded Progressive to Equal Weight from Overweight with a $74 price target.
12/16/19
MSCO
12/16/19
DOWNGRADE
Target $74
MSCO
Equal Weight
Progressive downgraded to Equal Weight on margin pressure at Morgan Stanley
Morgan Stanley analyst Michael Phillips downgraded Progressive to Equal Weight from Overweight with a price target of $74, down from $84, as he decreased his EPS forecasts for 2019-21 due to more intense underwriting margin pressure than he had previously expected. Although industry-wide headwinds should lead to minimal upside from current multiples, Phillips still believes Progressive will maintain "best-in-class" status in terms of margins, growth and ROE, the analyst added.
01/02/20
DBAB
01/02/20
UPGRADE
Target $84
DBAB
Buy
Progressive upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank analyst Joshua Shanker upgraded Progressive to Buy from Hold with an $84 price target. The analyst cites the 15% of stock underperformance relative to the S&P500 in Q4 of 2019 and believes that the 70% valuation to the index on a relative price to earnings basis represents a "prospective entry point", which should lead to a "material outperformance" for Progressive shares in the next 12 months.
01/02/20
01/02/20
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Capri Holdings (CPRI), G-III Apparel (GIII), and Designer Brands (DBI) were upgraded to Overweight from Equal Weight at Wells Fargo. 2. Fastly (FSLY) upgraded to Overweight from Neutral at Piper Jaffray with analyst James Fish citing the stock's "compelling valuation" and the headwinds around its GPM and float having played out. 3. ShotSpotter (SSTI) upgraded to Outperform from Market Perform at Northland with analyst Tyler Wood saying he views valuation as attractive following the second half 2019 reset and believes an Outperform rating is warranted given attractive fundamentals combined with conservative guidance and Street expectations. 4. United Airlines (UAL) upgraded to Outperform from In Line at Evercore ISI with analyst Duane Pfennigwerth saying shares trade at a "significant valuation" discount versus peers, combined with a longer-term co-brand credit card economics improvement potential and an Evercore ISI view of improved global GDP growth in 2020. 5. Progressive (PGR) upgraded to Buy from Hold at Deutsche Bank with analyst Joshua Shanker citing the 15% of stock underperformance relative to the S&P500 in Q4 of 2019 and believes that the 70% valuation to the index on a relative price to earnings basis represents a "prospective entry point," which should lead to a "material outperformance" for Progressive shares in the next 12 months. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

SPOT

Spotify

$148.20

-3.59 (-2.37%)

18:15
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Spotify in talks to acquire The Ringer, WSJ reports »

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CE

Celanese

$117.54

-0.53 (-0.45%)

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BYND

Beyond Meat

$109.20

-1.16 (-1.05%)

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Beyond Meat rival gets green light in Canada, The Star says »

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DBD

Diebold

$11.09

-0.49 (-4.23%)

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Breaking Periodicals news story on Diebold »

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IEF

iShares 7-10 Year Treasury Bond ETF

$111.28

-0.13 (-0.12%)

, SHY

iShares 1-3 Year Treasury Bond

$84.73

-0.005 (-0.01%)

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IEF

iShares 7-10 Year Treasury Bond ETF

$111.28

-0.13 (-0.12%)

SHY

iShares 1-3 Year Treasury Bond

$84.73

-0.005 (-0.01%)

SPY

SPDR S&P 500 ETF Trust

$331.98

1.08 (0.33%)

SLV

iShares Silver Trust

$16.82

0.04 (0.24%)

GLD

SPDR Gold Shares

$146.59

0.29 (0.20%)

FXE

Euro Currency Trust

$105.10

-0.43 (-0.41%)

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UBSFY

Ubisoft

$0.00

(0.00%)

17:32
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01/17
17:32
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Periodicals
Ubisoft to restructure editorial team after difficult 2019, VGC reports »

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  • 17

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    Feb

IMVT

Immunovant

$17.04

-0.01 (-0.06%)

17:27
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01/17
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17:27
Syndicate
Breaking Syndicate news story on Immunovant »

Immunovant files to sell…

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TBLT

ToughBuilt

$0.33

-0.0255 (-7.11%)

17:20
01/17/20
01/17
17:20
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17:20
Syndicate
ToughBuilt files to sell common stock, no amount given »

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MYO

Myomo

$0.32

0.0062 (1.98%)

17:18
01/17/20
01/17
17:18
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17:18
Conference/Events
Myomo to host special shareholder meeting »

Special Shareholder…

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  • 21

    Jan

SRRA

Sierra Oncology

$0.40

-0.02 (-4.76%)

17:14
01/17/20
01/17
17:14
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17:14
Conference/Events
Sierra Oncology to host virtual special shareholder meeting »

Virtual Special…

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  • 21

    Jan

SRNE

Sorrento Therapeutics

$4.26

-0.15 (-3.40%)

17:10
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01/17
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Syndicate
Breaking Syndicate news story on Sorrento Therapeutics »

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AKER

Akers Biosciences

$3.45

-0.1 (-2.82%)

17:01
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01/17
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Hot Stocks
Akers Biosciences reaches settlement agreements on two derivative actions »

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ECA

Encana

$4.09

-0.18 (-4.22%)

16:40
01/17/20
01/17
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Hot Stocks
Encana receives court approval for reorganization »

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  • 29

    Jan

MBRX

Moleculin Biotech

$0.96

0.0122 (1.29%)

16:38
01/17/20
01/17
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Syndicate
Breaking Syndicate news story on Moleculin Biotech »

Moleculin Biotech files…

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VOD

Vodafone

$20.07

-0.225 (-1.11%)

, BT

BT Group

$0.00

(0.00%)

16:37
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Periodicals
BT, Vodafone consider urging PM Johnson not to ban Huawei in U.K., Reuters says »

BT Group (BT) and…

VOD

Vodafone

$20.07

-0.225 (-1.11%)

BT

BT Group

$0.00

(0.00%)

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16:30
01/17/20
01/17
16:30
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Options
Preliminary option volume of 28.7M today »

Preliminary option volume…

NSCO

Nesco Holdings

$5.12

0.025 (0.49%)

16:26
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Syndicate
Nesco Holdings requests withdrawal of registration statement »

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GPS

Gap

$18.54

-0.075 (-0.40%)

, CMCSA

Comcast

$47.48

0.62 (1.32%)

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GPS

Gap

$18.54

-0.075 (-0.40%)

CMCSA

Comcast

$47.48

0.62 (1.32%)

CMCSK

Comcast

$0.00

(0.00%)

PLAY

Dave & Buster's

$47.35

5.3 (12.60%)

KKR

KKR

$31.20

0.7 (2.30%)

BA

Boeing

$324.11

-7.89 (-2.38%)

JNJ

Johnson & Johnson

$149.07

0.82 (0.55%)

SWK

Stanley Black & Decker

$172.63

2.18 (1.28%)

TWOU

2U

$22.84

1.05 (4.82%)

BE

Bloom Energy

$9.70

0.43 (4.64%)

MGPI

MGP Ingredients

$38.16

-14.74 (-27.86%)

FAST

Fastenal

$36.77

-0.55 (-1.47%)

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  • 17

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  • 29

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  • 31

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  • 26

    Feb

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  • 09

    Mar

  • 17

    Mar

APLS

Apellis

$40.43

0.03 (0.07%)

16:18
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Apellis CEO sells 30.6K shares of common stock »

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

16:17
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NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

16:16
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NYSE market internals summary »

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16:15
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General news
Treasury Market Summary »

Treasury Market Summary:…

LGC

Legacy Acquisition Corp

$10.33

(0.00%)

16:08
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Hot Stocks
Legacy Acquisition Corp extends date to consummate proposed business combination »

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GNUS

Genius Brands

$0.33

-0.015 (-4.41%)

16:04
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Syndicate
Breaking Syndicate news story on Genius Brands »

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BBY

Best Buy

$90.21

1.28 (1.44%)

16:04
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Best Buy board opens investigation into CEO's personal conduct, WSJ says »

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