Stock Rating Upgrade
Reflecting improving fundamentals and high Appreciation Potential, the Value Trend Rating for The Progressive Corp (NYSE: PGR) improved during the last several trading days. PGR’s current Value Trend Rating is B and the prior Rating was C. Details supporting this higher rating are included in our next report.
Recent Price Action
The Progressive Corp (NYSE: PGR) stock increased 1.2% on 3/8/24. The shares closed at $198.41. Trading volume in this advance was normal. The stock has been exceptionally strong relative to the market over the last nine months and has risen 4.7% during the last week.
Current PriceTarget Research Rating
PGR is expected to continue to be a major Value Builder reflecting capital returns that are forecasted to exceed the cost of capital.
Progressive has a current Value Trend Rating of B (Positive). This VT Rating improved in recent days from C previously. The Value Trend Rating reflects very contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. Progressive has a poor Appreciation Score of 30 but a very high Power Rating of 99, producing the Positive Value Trend Rating.
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