FINWIRES · TerminalLIVE
FINWIRES

Research Alert: CFRA Keeps Buy Opinion On Shares Of The Progressive Corporation

-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

We trim our 12-month target price by $10 to $235, valuing PGR shares at 12x our 2027 EPS estimate of $18.85 and at 13x our 2026 EPS estimate of $17.58 (raised today by $0.13), vs. the one-year average forward multiple of 15x and a peer average of 12x. We lower our 2026 operating revenue estimate to a rise of 9%-12% (from our previous estimate of a 12%-15% rise) amid our view that a more competitive pricing environment will reduce top-line growth, though PGR will likely continue to grow faster than peer averages. We now see earned premium growth of 8%-12% (down from 10%-15%), net investment income growth of 8%-10% (10%), and 12%-15% higher fee revenues (15%-18%). This compares to the broader property-casualty industry, which is likely to produce earned premium growth of around 4%-8% in 2026. Currently trading at 11.5x our 2026 EPs estimate, a discount to peer and historical averages, we view the shares as undervalued and see above-peer growth as a catalyst.

Related Articles

Asia

Adisyn Secures Rights to Commercialize Graphene-Based Stealth Technology

Adisyn (ASX:AI1) said 2D Generation's subsidiary, 2D Radar Absorbers, signed a license and research agreement with Ramot, the technology transfer company of Israel's Tel Aviv University, for the exclusive rights to commercialize graphene-based radar signature reduction or stealth technology, according to a Wednesday filing with the Australian bourse.The technology combines graphene and other 2D materials in composite materials to minimize radar detectability by absorbing and dissipating electromagnetic signals, the filing said.The deal includes a 12-month company-funded research program with Tel Aviv University, expected to cost less than AU$100,000, per the filing.

$ASX:AI1
International

Japan's Trade Surplus Expands in March as Exports to China, US Jump

Japan's trade surplus expanded to nearly 667 billion yen in March from 529.8 billion yen a year earlier as exports outpaced imports, data from the Ministry of Finance on Wednesday showed.Exports during the month climbed 11.7% to 11.003 trillion yen from 9.852 trillion yen, after shipments to its two largest trading partners, China and the US, rose 17.7% and 3.4%, respectively.This March export reading is triple that of the export growth of 4% the month prior.Exports to the Middle East plunged 45.9% while imports fell 10.7%, as the Iran war effectively shut the Strait of Hormuz, a vital waterway for Japan's oil imports from the region.Overall imports, meanwhile, grew 10.9% on year to 10.336 trillion yen from 9.322 trillion yen, boosted mostly by imports from Asian nations.

$^N225
Asia

Meteoric Resources to Raise AU$40 Million via Share Placement; Shares Up 15%

Meteoric Resources (ASX:MEI) received firm commitments to raise AU$40 million through the placement of about 235.3 million new shares at an AU$0.17 apiece, according to a Wednesday filing with the Australian bourse.Proceeds will be used to advance the company's Caldeira project in Brazil towards a final investment decision, the filing said.Shares rose nearly 15% in morning trade Wednesday.

$ASX:MEI