Morgan Stanley Maintains Equal-Weight on Progressive, Raises Price Target to $164
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Bob Huang has maintained an Equal-Weight rating on Progressive Corp (NYSE:PGR) and increased the price target from $160 to $164.
November 20, 2023 | 1:44 pm
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POSITIVE IMPACT
Morgan Stanley has maintained an Equal-Weight rating on Progressive and raised the price target from $160 to $164, indicating a positive outlook on the stock.
The increase in price target by Morgan Stanley suggests a positive adjustment in the valuation of Progressive, which could lead to a short-term increase in investor confidence and a potential rise in the stock price. However, since the rating remains Equal-Weight, the impact may be moderate rather than significant.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100