Morgan Stanley Slashes PT on The Progressive Corporation (PGR) to $214 From $265

The Progressive Corporation (NYSE:PGR) is one of the best long term low volatility stocks to buy right now. Morgan Stanley analyst Bob Huang slashed the price target on The Progressive Corporation (NYSE:PGR) to $214 from $265 on October 20, downgrading the stock to Underweight from Equal Weight.

The firm told investors that it considers The Progressive Corporation’s (NYSE:PGR) bull case to be less visible when stripping out Florida, adding that the company is entering into a softer part of the pricing cycle. This is likely to result in a further compression of valuation multiples, according to the analyst. The firm added that the cyclical nature of the business suggests earnings declines in 2026 and 2027.

The Progressive Corporation (NYSE:PGR) is an insurance holding company that provides residential property insurance, personal and commercial auto insurance, and other specialty property-casualty insurance and related services. The company operates through the Personal Lines, Commercial Lines, and Property segments.

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Disclosure: None. This article is originally published at Insider Monkey.