Morgan Stanley Maintains Underweight on Progressive, Lowers Price Target to $114
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Michael Phillips has maintained an Underweight rating on Progressive (NYSE:PGR) and lowered the price target from $136 to $114.
July 26, 2023 | 3:17 pm
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Morgan Stanley has maintained an Underweight rating on Progressive and lowered the price target, which could negatively impact the stock's performance.
The lowered price target by Morgan Stanley indicates a bearish outlook for Progressive. This could lead to a decrease in the stock's price as investors adjust their expectations based on this new target.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100