These Analysts Increase Their Forecasts On Progressive Following July Results
Portfolio Pulse from Avi Kapoor
The Progressive Corporation (NYSE:PGR) reported strong financial results for July, with earnings of $1.38 per share and net premiums written of $6.378 billion. Following the announcement, Progressive shares rose by 5.4% to close at $234.34. Analysts from Goldman Sachs, Piper Sandler, and Wells Fargo have increased their price targets for the stock.
August 15, 2024 | 1:05 pm
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Progressive reported strong July earnings of $1.38 per share and net premiums written of $6.378 billion. The stock rose 5.4% to $234.34. Analysts from Goldman Sachs, Piper Sandler, and Wells Fargo raised their price targets, indicating positive sentiment.
The strong financial results and subsequent increase in price targets by multiple analysts suggest a positive short-term outlook for Progressive's stock. The 5.4% rise in share price further supports this sentiment.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100