-- 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.