Cyclical Ceiling In Sight? BofA Turns Cautious On Progressive During Macro Shifts
1. BofA downgraded PGR from Buy to Neutral, forecast at $287. 2. Earnings growth expected to decelerate in 2026, despite higher forecasts. 3. PGR's defensive market position benefits amid recession concerns. 4. Analyst notes tariffs could impact margins negatively. 5. PGR shares closed down 10.23% at $257.64.