Progressive price target lowered to $294 from $295 at Jefferies

Jefferies analyst Yaron Kinar lowered the firm’s price target on Progressive (PGR) to $294 from $295 and keeps a Buy rating on the shares. The firm’s preference into 2025 among the property and casualty insurance and insurtech space remains personal lines, citing strong and improving fundamentals and hard market conditions that will possibly be extended should tariffs be placed, while it believes it is “still too early to become more constructive on commercial lines,” the analyst tells investors in a group outlook note.