BofA raises Progressive's PT on promising growth, shareholder returns

The Progressive

29/09/2025 16:33

** BofA raises PT on auto insurer Progressive Corp PGR.N to $350 from $343, citing strong growth and generous shareholder returns; retains "buy" rating

** Brokerage says market is underestimating Progressive's earnings potential, so they have raised co's forecast significantly

** "We expect the company to generate capital in excess of its needs equal to about $8 billion annually for the next half decade of $50 billion through 2030," BofA says

** 10 of 25 brokerages rate stock "buy" or "higher", 15 "hold"; their median PT is $275 - LSEG-compiled data

** Including session's move, stock up about 1.26% YTD

 (Reporting by Anuj T in Bengaluru)

 ((anuj.t@thomsonreuters.com))