Raymond James Downgrades Progressive to Market Perform
Portfolio Pulse from Benzinga Newsdesk
Raymond James analyst C. Gregory Peters has downgraded Progressive (NYSE:PGR) from Outperform to Market Perform, indicating a change in the firm's outlook on the insurance company's stock.
December 12, 2023 | 1:59 pm
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Progressive Corp. was downgraded by Raymond James from Outperform to Market Perform, which may influence investors' perception of the stock.
Downgrades by analysts can lead to a negative short-term reaction in the stock market as they often signal a change in the expected performance of the company. Investors may adjust their positions based on the new rating, potentially leading to a decrease in stock price.
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