Morgan Stanley Slashes PT on The Progressive Corporation (PGR) to $214 From $265

Group 1 - The Progressive Corporation (NYSE:PGR) is considered one of the best long-term low volatility stocks to buy currently [1] - Morgan Stanley analyst Bob Huang downgraded the price target for PGR from $265 to $214 and changed the rating from Equal Weight to Underweight on October 20 [1] - The firm believes that the bull case for PGR is less visible when excluding Florida and that the company is entering a softer pricing cycle, which may compress valuation multiples further [2] Group 2 - The Progressive Corporation operates as an insurance holding company, providing residential property insurance, personal and commercial auto insurance, and other specialty property-casualty insurance [3] - The company has three main segments: Personal Lines, Commercial Lines, and Property [3] - Analysts predict earnings declines for PGR in 2026 and 2027 due to the cyclical nature of the business [2]