Jefferies analyst Andrew Andersen has lowered the price target for Progressive Corp. (NYSE: PGR) to $216 from $230, while maintaining a Hold rating. The reduction is based on updated model estimates following December results, citing higher Personal Auto liability ratio and expense ratio estimates for 2026-2028 due to continued competitive pressure. Despite the lower estimates, Jefferies’ EPS forecasts remain slightly above street expectations.
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Progressive Corp. (PGR) PT Lowered to $216 at Jefferies
Jefferies analyst Andrew Andersen has lowered the price target for Progressive Corp. (NYSE: PGR) to $216 from $230, while maintaining a Hold rating. The reduction is based on updated model estimates following December results, citing higher Personal Auto liability ratio and expense ratio estimates for 2026-2028 due to continued competitive pressure. Despite the lower estimates, Jefferies’ EPS forecasts remain slightly above street expectations.