Morgan Stanley raised the firm’s price target on Progressive (PGR) to $317 from $307 and keeps an Overweight rating on the shares. Progressive “stood out above the rest in terms of growth and profitability” following January results and Q4 industry earnings, argues the analyst, who now sees a more durable underwriting environment that supports a higher EPS growth trajectory.
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Read More on PGR:
- Positive Outlook for Progressive: Buy Rating Backed by Growth in Auto Policies and Improved EPS Forecast
- Progressive’s Strong Start to 2025 Drives Buy Rating from Elyse Greenspan
- Progressive reports January EPS $1.90 vs. $1.18 last year
- Progressive price target raised to $264 from $261 at Barclays
- Progressive price target raised to $313 from $302 at Wells Fargo