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UBS analyst Brian Meredith maintains Progressive (NYSE:PGR) with a Neutral and raises the price target from $225 to $234.
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Progressive (PGR) closed at $223.91, up 1.14%, outperforming the S&P 500. The stock has gained 4.05% over the past month. Analysts expect upcoming earnings of $3.98 per share (down 1.73% YoY) with revenue of $23.29 billion (up 4.83% YoY). The company holds a Zacks Rank #3 (Hold) with a Forward P/E of 12.48, trading at a premium to its industry average of 11.55.
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Progressive stock fell 2.18% to $217.65, underperforming broader market gains. The insurer is expected to report lower EPS of $3.98 (down 1.73% YoY) but higher revenue of $23.29 billion (up 4.83% YoY). The stock carries a Zacks Rank #3 (Hold) with a Forward P/E of 12.54, trading at a premium to its industry average.