Wells Fargo has adjusted its price projection for Progressive Corporation (PGR, Financial), increasing the target from $320 to $324, while maintaining an Overweight rating on the stock. The adjustment reflects the firm's confidence in the company's robust performance and its capacity for continued growth.
Progressive's impressive growth in policies in force (PIF) during March was noted as a key factor, which, under typical circumstances, might have led to a more significant reaction in the stock's price. The year-to-date combined ratio also indicates that Progressive is well-positioned to handle tariff impacts without hindering its growth trajectory.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 16 analysts, the average target price for Progressive Corp (PGR, Financial) is $299.31 with a high estimate of $324.00 and a low estimate of $266.00. The average target implies an upside of 8.79% from the current price of $275.13. More detailed estimate data can be found on the Progressive Corp (PGR) Forecast page.
Based on the consensus recommendation from 22 brokerage firms, Progressive Corp's (PGR, Financial) average brokerage recommendation is currently 2.4, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Progressive Corp (PGR, Financial) in one year is $245.40, suggesting a downside of 10.81% from the current price of $275.13. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Progressive Corp (PGR) Summary page.
