What the stock market gives, the stock market can take away. Only one day after a day Progressive (PGR -3.53%, The first quarter results that satisfy investors, on Thursday, an analyst made a recommendation by an analyst by an analyst.
This reduced that session by about 4%, one day when benchmark S&P 500 The index managed to crawl 0.1% more.
Going down with downgrade
I should mention that many analysts weighed on Thursday with progressive earnings, in which less than three insurance company stocks were not increased on its price target.
As we all know, however, sometimes takes only one guest to spoil the party. Before the Market Open today, a pundit in the Mayor Shields – Kef, Bruit and Woods Financial Financial – Dowgrad made. For that, the company now gives the rate of a market performance (catch, in other words), where earlier it was an outperform (buy). Shields maintained its price target of $ 288 per share.
According to reports, some of his contradictory steps were based on trends he said that he had noted with business. He wrote in his latest research note that its in-arrow will slow down the growth of auto policies, as the competitors do not increase the rate. Shields also expressed concern that the earned rates of progressive would come under pressure from increased claims.
On the right side of the road
In this example, I would be more likely to the side with analysts who competed their value target rather than a downgrading party. Progressive management has shown nature in finding new ways to grow, so I think the pressure in its main activities will be reduced by other sources of revenue and profitability. This stock seems like a purchase for me these days.
Any stock mentioned by Eric Wolkmann has no situation. The micle flower has a position and recommends the progressive. The Motley Fool has a disclosure policy.
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