Wall Street analysts are showing strong optimism for two major financial stocks: Progressive (PGR) and American Express (AXP). Bank of America Securities analyst Joshua Shanker reiterated a Buy rating on Progressive on October 23, setting a price target of $262.00. The stock closed last Friday at $228.07. Shanker, a 5-star analyst with a 6.9% average return and a 62.8% success rate, covers the Financial sector and focuses on stocks like American International Group and Corebridge Financial.
The broader analyst consensus for Progressive is a Moderate Buy, with an average price target of $229.00, suggesting minimal downside from current levels. Other recent reports include a price target raise to $238 from $234 at UBS and a lower target of $216 from $221 at BMO Capital.
Meanwhile, Bank of America Securities analyst Mihir Bhatia also reiterated a Buy rating on American Express on October 23, with a price target of $369.00. The stock closed last Friday at $313.22, near its 52-week high of $326.28. Bhatia, another 5-star analyst with an 8.8% average return and a 63.9% success rate, covers stocks such as Bread Financial Holdings and Capital One Financial.
American Express has a Moderate Buy consensus among analysts, with a price target consensus of $373.29, implying an 18.5% upside from current levels. BMO Capital recently initiated coverage with a Buy rating and a $380.00 price target.