Goldman Sachs Lowers Progressive (PGR) PT to $245 on Projected Auto Premium Decline

The Progressive Corporation (NYSE:PGR) is one of the most undervalued large cap stocks to buy right now. On October 28, Goldman Sachs analyst Robert Cox lowered the firm’s price target on Progressive to $245 from $276, while maintaining a Buy rating on the shares. Goldman Sachs believes that the Personal Auto premium-per-policy is projected to decline by about 3% over the next 2 years. However, the firm noted that stability in state insurance filings should help moderate the pace of this decline.

Additionally, on October 20, Barclays analyst Alex Scott also lowered the firm’s price target on Progressive to $257 from $271 with an Equal Weight rating on the shares following the company’s Q3 2025 report.

Goldman Sachs Lowers Progressive (PGR) PT to $245 on Projected Auto Premium Decline

On the same day, Morgan Stanley also downgraded Progressive to Underweight from Equal Weight, while cutting its price target to $214, down from $265. Morgan Stanley believes that the bull case for Progressive becomes less visible once the performance of its operations in Florida is excluded.

The Progressive Corporation (NYSE:PGR) operates as an insurance company in the US. The company writes insurance for personal autos & special lines products like motorcycles, RVs, and watercraft; and personal residential property insurance for homeowners & renters.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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