Morgan Stanley analyst Bob Huang raised the firm’s price target on Progressive (PGR) to $310 from $300 and keeps an Overweight rating on the shares. In a seasonally quiet quarter, Progressive managed to add almost as many personal auto policies-in-force in Q3 as it did in full year 2021 and 2022 combined, says the firm, which calls this “remarkable.” The firm views the company as well positioned to compete in the personal auto space, the analyst added.
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