Progressive price target raised to $270 from $235 at Roth MKM

Roth MKM raised the firm’s price target on Progressive to $270 from $235 and keeps a Buy rating on the shares. The firm cites the company’s better than expected July earnings, with total personal auto policies-in-force increasing 12% – the strongest year over year increase since September 2023, the analyst tells investors in a research note. Progressive’s underwriting results were also excellent, with loss ratios below 70% in both the agency and direct channels, the firm added.