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.

Is Progressive Corporation (PGR) the Best Low Volatility Stock to Buy Now?

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.

While we acknowledge the potential of PGR to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than PGR and that has 100x upside potential, check out our report about this cheapest AI stock.

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.