Citigroup Maintains Sell on Progressive, Raises Price Target to $120
Portfolio Pulse from Benzinga Newsdesk
Citigroup analyst Michael Ward has maintained a 'Sell' rating on Progressive (NYSE:PGR) but raised the price target from $106 to $120.
September 18, 2023 | 1:36 pm
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Despite the raised price target from $106 to $120, Citigroup maintains a 'Sell' rating on Progressive, indicating a bearish outlook.
The 'Sell' rating maintained by Citigroup indicates a bearish outlook for Progressive. Despite the raised price target, the recommendation suggests that the analyst believes the stock is overvalued at current levels and may decline in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100