Stifel Nicolaus Reiterates Buy on Progressive

Stifel Nicolaus is out with its report today on Progressive PGR, reiterating Buy after attending PGR's investor day. In a note to clients, Stifel Nicolaus writes, "We reiterate our Buy rating on the shares of Progressive. The investor day clearly demonstrated the depths of Progressive's innovative approach and analytical prowess, and we left its investor day more optimistic about resumed policy count growth following recent months' deceleration." Stifel Nicolaus maintains a $25 PT on PGR. Shares of PGR closed Friday at $20.36, up 1.55% from Thursday's close.