Why Progressive Stock Wilted on Wednesday
On Wednesday, investors felt that they couldn't make a lot of portfolio progress with (NYSE: PGR). The insurance company's stock was hit with a sell-off following an analyst's price target cut; on the back of this, it closed the day almost 4% down in price. That performance compared most unfavorably to the rising S 500 index, which rose by 1.1%.
The man with the scissors was Joshua Shanker of Bank of America Securities. He now feels Progressive is worth $300 per share, down from his previous level of $318. Despite the price target cut, Shanker is still a Progressive bull, as he maintained his buy recommendation on the insurer.
This isn't the analyst's one and only chop on the Progressive price target. Last week, Shanker cut his $333 per share assessment to that $318.
Source Fool.com
Progressive Corp. Aktie
Die Community unterstützt Progressive Corp. stark, mit vielen Buy- und wenigen Sell-Einschätzungen.
Ein Kursziel von 285 € für Progressive Corp. könnte zu einer Steigerung von mehr als 20% gegenüber dem aktuellen Kurs von 197.34 € führen.
