Morgan Stanley Maintains Underweight on Progressive, Raises Price Target to $124
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Michael Phillips has maintained an Underweight rating on Progressive (NYSE:PGR) and raised the price target from $114 to $124.
September 18, 2023 | 2:02 pm
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Morgan Stanley has maintained an Underweight rating on Progressive and raised the price target from $114 to $124.
The Underweight rating maintained by Morgan Stanley indicates a negative outlook for Progressive. However, the increase in price target from $114 to $124 suggests that the analyst sees some potential for the stock's price to rise, albeit not enough to change the overall negative rating. This could lead to a short-term decrease in the stock's price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100