7/102 sources · 2 publishersUpdated Oct 15, 15:04 UTC
Wells Fargo lowers Progressive price target to $196 and cuts 2027 earnings outlook
Wells Fargo reduced its target price for Progressive Corp. (PGR) from $201 to $196, keeping an Underweight stance. The bank said the change reflects policy losses and a higher accident‑year loss ratio than expected. It also trimmed its 2027 earnings projection by 2.4%, which still sits 13.1% under the consensus estimate. Progressive is scheduled to report earnings on October 14.
Why it matters
The lower target and earnings outlook suggest weaker near‑term growth, which may pressure the stock price. Investors should note the reduced expectations when modeling future performance.
Key facts
- 1Wells Fargo cut the price target for Progressive to $196 from $201. investing.com
- 2The bank maintained an Underweight rating on the stock. investing.com
- 3Wells Fargo said the revision reflects loss of policies in force and an elevated accident‑year loss ratio. investing.com
- 4The analyst lowered the 2027 earnings estimate by 2.4%, leaving it 13.1% below consensus. investing.com
- 5Progressive is set to release its earnings on October 14. investing.com
- 6GuruFocus reported insider selling of $23,202,513 over the last three months. gurufocus.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.