Goldman Sachs Downgrades Progressive Corp. (PGR) to Sell, Sees 12% Downside

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Goldman Sachs downgraded Progressive Corp. (NYSE: PGR) to Sell with a price target of $18, suggesting 12% downside.

In the sector the firm prefer commercial lines to personal lines. Also, they said they see limited earnings expansion through 2013.

For an analyst ratings summary and ratings history on Progressive Corp. click here. For more ratings news on Progressive Corp. click here.

Shares of Progressive Corp. closed at $20.56 yesterday, with a 52 week range of $16.88-$21.96.

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