Progressive Corporation (PGR) Maintains Hold Rating

Soleil Securities has released an update on Progressive Corporation (NYSE: PGR).

The company appears poised to embark upon another attempt at growth. However, Soleil believes that the company’s growth strategy depends largely on retention, which is an area where the firm has not excelled. This is mainly due to the company’s customer mix, which favors non-standard drivers where retention is not a significant issue, according to Soleil Securities.

Soleil Securities continues to rate Progressive Corporation as a Hold, with a price target of $17.