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Progressive Corporation (the) (PGR) [hlAlert]

Rating:
Neutral PGR
down 14.90 %

Progressive Corporation (the) (PGR) upgraded to Neutral with price target $22 by Credit Suisse

Posted on: Thursday,  Apr 15, 2010  9:25 AM ET by Credit Suisse

Credit Suisse rated Neutral Progressive Corporation (NYSE: PGR) on 04/15/2010. Previously Credit Suisse rated Underperform Progressive Corporation (NYSE: PGR) on
01/07/2010., when the stock price was $17.58. Since then, Progressive Corporation has gained 17.52% as of 04/15/2010's recent price of $20.66.
If you would have followed the previous Credit Suisse's recommendation on PGR, you would have lost 14.9% of your investment in 98 days.

The Progressive Corporation is an insurance holding company. As of December 31, 2008, the Company owned 58 subsidiaries and had one mutual insurance company affiliate. Its insurance subsidiaries provide personal and commercial automobile insurance, and other specialty property-casualty insurance and related services throughout the United States. The Company?s Personal Lines segment writes insurance for private passenger automobiles and recreational and other vehicles. The Commercial Auto segment business writes primary liability and physical damage insurance for automobiles and trucks owned by small businesses. The Company?s other indemnity businesses primarily include writing professional liability insurance for community banks, principally directors and officers liability insurance. Its service businesses include providing insurance-related services, primarily for the commercial auto insurance procedures/plans (CAIP).

Excellence in equity and fixed income research is a hallmark of Credit Suisse. Globally, our equity research analysts provide in-depth coverage of over 2,500 companies and engage in a knowledge-sharing, value added culture that has yielded the most insightful product for our customers and tremendous competitive results. Additionally, Credit Suisse's powerful macro-economic and debt strategy teams integrate the bank's comprehensive company research with keen market perspectives of the ever-shifting investment terrain.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
4/15/2010 9:25 AM Hold
None
20.66 22.00
as of 12/31/2010
1 Week   
1 Month   
3 Months   
1 YTD down  -17.51 %
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
1/7/2010 9:25 AM Sell
None
17.58
7/18/2008 9:25 AM Hold
None
18.98 21.00

(*) Stock Price at the time of the recommendation.
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