Auto Insurer Progressive Corp's September Results Could Suggest Inflection Point, Says Analyst
Portfolio Pulse from Shivani Kumaresan
Raymond James analyst C. Gregory Peters has reiterated an Outperform rating on Progressive Corporation (PGR) and raised the price target from $145 to $165. The company reported better-than-expected September 2023 results, leading to its shares touching a new all-time high. The analyst believes PGR is well-positioned to outperform in 2023 due to its competitive position and technology solutions.
October 16, 2023 | 6:57 pm
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Progressive Corporation's stock is expected to perform well, with a raised price target from $145 to $165. The company's better-than-expected results and competitive position contribute to this positive outlook.
The analyst from Raymond James has given a positive outlook for Progressive Corporation, reiterating an Outperform rating and raising the price target. This is based on the company's better-than-expected results and its competitive position, including a flexible pricing platform and technology solutions. This news is likely to have a positive impact on the company's stock in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100