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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NEGATIVE IMPACT
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