BMO Capital Reiterates Outperform Rating on Progressive Corp. (PGR)

BMO Capital analyst Michael Zaremski reiterated an Outperform rating and $234.00 price target on Progressive Corp. (NYSE: PGR).

"Our EPS estimates increase ~3% in 2024 (excluding the March beat) and ~2% in 2025. Upward revisions are primarily driven by stronger organic/policy count (PIF) growth in 2024, as well as higher net investment income following the recent rise in interest rates. Additionally, we lower/improve our near-term underlying loss ratio estimates following PGR's significant March beat. Our EPS estimates remain >10% above consensus estimates in both 2024 and 2025."

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 $203.90 yesterday.

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