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Zenovia Digital Exchange Corp designs and assembles motorsport racing vehicles for its own use and plans to compete in organized racing events. The company generates revenue from the leasing of race truck chassis and its motor coach to motorsports organizations competing in the NASACAR Camping World Truck Series.

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ZENOVIA DIGITAL EXCH CORP by Zenovia Digital Exchange Corporation

Zenovia Digital Exchange Corp

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TCRX

TScan Therapeutics Enters Securities Purchase Agreement With Lynx1 Capital, Investment Fund Advised By Lynx1 For Sale Of $30M Of Pre-funded Warrants To Buy Up To Aggregate Of 7.50M Shares Of Voting Common Stock At $4.00 Per Pre-funded Warrant

The two companies plan to collaborate on the development and commercialization of Clearmind's proprietary MEAI-based alcohol substitute and Dr Glitter Pty Ltd's proprietary ActivCrystal&#x2122; technology. The term sheet outlines preliminary terms that, upon the mutual agreement of the parties, will be memorialized in a definitive agreement that sets forth a framework for advancing Clearmind and Dr Glitter Pty Ltd's groundbreaking innovations.

CMND

Clearmind Medicine Says Recently Signed A Non-binding Term Sheet With Dr Glitter Pty Ltd For Mutual Development In ActivCrystal Format

14 analysts have shared their evaluations of Progressive (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>) during the recent three months, expressing a mix of bullish and bearish perspectives.
In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">4</td>
<td align="right">8</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">0</td>
<td align="right">3</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">1</td>
<td align="right">1</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">3</td>
<td align="right">3</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $293.86, with a high estimate of $335.00 and a low estimate of $237.00. Observing a 4.35% increase, the current average has risen from the previous average price target of $281.62. 
<img src="https://www.benzinga.com/files/images/story/2024/1735214419_0.png" alt="price target chart" />
<h2>Decoding Analyst Ratings: A Detailed Look</h2>
A comprehensive examination of how financial experts perceive Progressive is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>C. Gregory Peters</td>
<td>Raymond James</td>
<td>Announces</td>
<td>Outperform</td>
<td>$305.00</td>
<td>-</td>
</tr>
<tr>
<td>Michael Zaremski</td>
<td>BMO Capital</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$267.00</td>
<td>$273.00</td>
</tr>
<tr>
<td>Elyse Greenspan</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Overweight</td>
<td>$302.00</td>
<td>$299.00</td>
</tr>
<tr>
<td>Bob Huang</td>
<td>Morgan Stanley</td>
<td>Maintains</td>
<td>Overweight</td>
<td>$310.00</td>
<td>$310.00</td>
</tr>
<tr>
<td>Joshua Shanker</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$335.00</td>
<td>$331.00</td>
</tr>
<tr>
<td>Andrew Kligerman</td>
<td>TD Cowen</td>
<td>Raises</td>
<td>Hold</td>
<td>$237.00</td>
<td>$197.00</td>
</tr>
<tr>
<td>David Motemaden</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>Outperform</td>
<td>$285.00</td>
<td>$277.00</td>
</tr>
<tr>
<td>Alex Scott</td>
<td>Barclays</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$277.00</td>
<td>$267.00</td>
</tr>
<tr>
<td>Bob Huang</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Overweight</td>
<td>$310.00</td>
<td>$300.00</td>
</tr>
<tr>
<td>Meyer Shields</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Raises</td>
<td>Outperform</td>
<td>$290.00</td>
<td>$280.00</td>
</tr>
<tr>
<td>Joshua Shanker</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$331.00</td>
<td>$319.00</td>
</tr>
<tr>
<td>Jimmy Bhullar</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$251.00</td>
<td>$242.00</td>
</tr>
<tr>
<td>Joshua Shanker</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$319.00</td>
<td>$309.00</td>
</tr>
<tr>
<td>Yaron Kinar</td>
<td>Jefferies</td>
<td>Raises</td>
<td>Buy</td>
<td>$295.00</td>
<td>$257.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Progressive. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analyzing trends, analysts offer qualitative evaluations, ranging from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Progressive compared to the broader market.</li>
<li>Price Targets: Delving into movements, analysts provide estimates for the future value of Progressive's stock. This analysis reveals shifts in analysts' expectations over time.</li>
</ul>
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into Progressive's market standing. Stay informed and make well-considered decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/PGR/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Progressive analyst ratings.</a>
<h2>Delving into Progressive's Background</h2>
Progressive underwrites private and commercial auto insurance and specialty lines; it has almost 20 million personal auto policies in force and is one of the largest auto insurers in the United States. Progressive markets its policies through independent insurance agencies in the US and Canada and directly via the internet and telephone. Its premiums are split roughly equally between the agent and the direct channel. The company also offers commercial auto policies and entered homeowners insurance through an acquisition in 2015.
<h3>Progressive: Delving into Financials</h3>
Market Capitalization Analysis: The company's market capitalization is above the industry average, indicating that it is relatively larger in size compared to peers. This may suggest a higher level of investor confidence and market recognition.
Revenue Growth: Progressive displayed positive results in 3 months. As of 30 September, 2024, the company achieved a solid revenue growth rate of approximately 26.74%. This indicates a notable increase in the company's top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Financials sector.
Net Margin: Progressive's net margin is impressive, surpassing industry averages. With a net margin of 11.84%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): Progressive's ROE excels beyond industry benchmarks, reaching 9.24%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Progressive's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 2.3% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: Progressive's debt-to-equity ratio is below the industry average. With a ratio of 0.25, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
<h2>The Basics of Analyst Ratings</h2>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Ratings

Assessing Progressive: Insights From 14 Financial Analysts

U.S. stock futures declined on Thursday after a break for Christmas on Wednesday. All four index futures slipped in early trade.
The S&amp;P 500 index is on its way to registering a robust 20% plus return for the second consecutive year in 2024, as most analysts expect a Santa Rally.
The 10-year and two-year Treasury notes yielded 4.62% and 4.35%, respectively. The probability of having no change in the interest rates for the upcoming Jan. 31, 2025 decision was at 91.4%, according to CME Group&#8217;s FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Change (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.42%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.43%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.41%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.43%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Thursday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was down 0.49% to $598.36&nbsp; and the Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 0.47% to $527.45, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Cues From The Last Session
Wall Street closed higher on Tuesday, kicking off the traditional <a href="https://www.benzinga.com/news/treasuries/24/12/42674886/santa-rally-kicks-off-on-wall-street-stocks-gain-tesla-soars-bitcoin-hits-98000">Santa Rally</a>. All major indices and sectors finished the shortened pre-Christmas trading session in the green.
The S&amp;P 500 climbed 1.1%, extending its winning streak to three consecutive days following the volatile Federal Reserve meeting last week. The Dow Jones Industrial Average rose 0.91%, while the tech-heavy Nasdaq 100 gained 1.37%, nearly recouping last week&#8217;s losses.
Consumer discretionary stocks, the top-performing sector this year, led the rally. Trading volumes were light but Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) surged 7.35%, its strongest single-day gain since November. Other notable performers in the S&amp;P 500 included Walmart Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) up 2.5%, Starbucks Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NYSE">SBUX</a>) up 2.8%, and Netflix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) up 2.27%. 
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>1.35%</td>
<td>20,031.13</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>1.10%</td>
<td>6,040.04</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>0.91%</td>
<td>43,297.03</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>1.00%</td>
<td>2,259.85</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts
Louis Navellier of Navellier &amp; Associates had said that Jerome Powell's hawkish stance did not inspire confidence. However, he believes that &#8220;A Santa Claus rally was subsequently sparked by the November PCE report, so the stock market is rallying into Christmas and should also rally into the New Year.&#8221;
&#8220;There is not a lot of economic news this week, but the good news is non-defense capital goods orders rose by 0.7% and have risen 2.1%, so there is a &#8216;green shoot&#8217; in the durable goods report. The Commerce Department reported that durable goods declined 1.1% in November due largely to a 12% decline in defense orders. Excluding transportation, durable goods orders declined by a more modest 0.1%,&#8221; he added.
According to Bespoke Investment Group &#8220;The S&amp;P has traded above its 200-DMA all year. This has happened 11 other times since 1952, and the next-year move has been about half the average. The last time this happened was in 2021, and before that, 2017.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The S&amp;P has traded above its 200-DMA all year. This has happened 11 other times since 1952, and the next-year move has been about half the average. Last time this happened was in 2021, and before that, 2017. <a href="https://t.co/LBmXRZ4OSC">pic.twitter.com/LBmXRZ4OSC</a>
&mdash; Bespoke (@bespokeinvest) <a href="https://twitter.com/bespokeinvest/status/1871580687595454732?ref_src=twsrc%5Etfw">December 24, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
According to Wells Fargo, &#8220;The outlook for 2025 is riddled with uncertainty.&#8221; The note also added that &#8220;Ascertaining what level of policy restraint achieves the careful balance of keeping inflation in check and easing stress on interest-rate sensitive sectors will dominate the monetary policy discussion come 2025.&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/money/how-to-trade-futures">How To Trade Futures</a>
Upcoming Economic Data
A few important data points remain to be released in this truncated week that will help investors determine the future course of action.
<ul>
<li>On Thursday, initial jobless claims data till Dec. 21 will announced at 8:30 a.m. ET.</li>
</ul>
<ul>
<li>On Friday, November&#8217;s data for the advanced U.S. trade balance in goods, advanced retail inventories, and advanced wholesale inventories will be announced at 8:30 a.m., ET.</li>
</ul>
Stocks In Focus:
<ul>
<li>Color Star Technology Co Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADD#NASDAQ">ADD</a>) was up 103.70% in premarket after it announced that a prominent member of the UAE's royal family, has joined the company as an independent director.</li>
</ul>
<ul>
<li>Amplitech Group Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMPG#NASDAQ">AMPG</a>) was up 15.35% and has risen by 81.17% over the last five sessions after it entered into agreements with institutional investors for a registered direct offering, raising $3.1 million before fees and expenses.</li>
</ul>
<ul>
<li>Rigetti Computing, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGTI#NASDAQ">RGTI</a>) was up 1.5% after the launch of its 84-qubit Ankaa-3 system, a quantum computer featuring an extensive hardware redesign that enables superior performance.</li>
</ul>
<ul>
<li>Zoomcar Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZCAR#NASDAQ">ZCAR</a>) was up 102.09% after it reported a 43% year-on-year growth in bookings for November 2024, primarily driven by increased wedding season demand.</li>
</ul>
<ul>
<li>Hour Loop Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOUR#NASDAQ">HOUR</a>) was down 36.36%, Direct Digital Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DRCT#NASDAQ">DRCT</a>) was down 31.27% and Baosheng Media Group Holdings Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BAOS#NASDAQ">BAOS</a>) was down 28.87%.</li>
</ul>
Commodities, Gold And Global Equity Markets:
Crude oil futures were higher in the early New York session by 0.61% to hover around $70.53 per barrel.
The gold spot index was up by 0.36% to $2,645.11 per ounce. The Dollar Index was down 0.09% to 108.155 level.
Most Asian Markets ended Thursday on a Mixed note.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42678014/top-7-blue-chip-stocks-with-the-best-return-potential-going-into-2025">S&amp;P 500 Hits 57 All-Time Highs In Record-Breaking 2024: Magnificent 7 Drive 30% Of Nasdaq&#8217;s Surge</a> 
Photo courtesy: Wikimedia

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Federal Reserve

US Stocks Likely To Open In Red After Christmas Break But Analysts Still Expect A Santa Rally Into The New Year

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