Jefferies lowers Progressive stock price target to $216 on auto pressure

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Jefferies has reduced its price target for Progressive Corp. (NYSE:PGR) from $230.00 to $216.00, maintaining a Hold rating due to anticipated competitive pressures in the Personal Auto market. The firm also lowered its earnings per share estimates for 2026-2028, citing slightly higher Personal Auto loss and expense ratio projections. This adjustment comes amidst mixed analyst sentiments, with some firms raising price targets and others expressing concerns about auto growth and reiterating lower ratings.

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