BofA raised the firm’s price target on Progressive to $331 from $319 and keeps a Buy rating on the shares. Progressive net added 394,000 personal auto policies in September, a 1.8% increase month-over-month, and the company has averaged a 1.9% increase in policycount in each of the past seven months, notes the analyst, who expects personal auto policycount growth to be over 20% for 2024.
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