Progressive (PGR) Stock Advancing on Analyst Note

NEW YORK (TheStreet) -- Shares of Progressive Corp. (PGR) are rising 1.72% to $28.35 after Credit Suisse increased its 2017 earnings estimate to $2.19 from $2.18.

The firm sees good visibility into the pipeline profits and the company's substantial net unrealized common equity gains a positive position which stood at $1 billion at the end of first quarter 2015, Credit Suisse noted.

"Given the gradual move higher in interest rates and the Aeroflex Holding Corp. (ARX) acquisition which should add $2 to $3 million of net interest income per month, we think there is pretty good visibility toward a bottoming of net investment income," Credit Suisse analysts said.

Progressive is an insurance holding company that provides personal auto insurance, commercial auto and truck insurance principally for small businesses, and other specialty property-casualty insurance and related services.

Separately, TheStreet Ratings team rates PROGRESSIVE CORP-OHIO as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:

"We rate PROGRESSIVE CORP-OHIO (PGR) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel its strengths outweigh the fact that the company has had sub par growth in net income."

If you liked this article you might like

How Well Do You Know Your Insurer -- and Its Reinsurer?

Allstate and Travelers Likely Spared From Worst Hurricane Irma, Harvey Damages

How to Make Easy Money on Apple's iPhone X Worldwide Reveal: Market Recon

Debt Ceiling Progress Boosts Stocks, but Hurricane Irma Rains on Major Rally

Fed's Fischer Throws a Curveball; Markets Eye Hurricane Irma -- ICYMI Wednesday