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World Series trade #6: Progressive (PGR)

Posted Nov 1st 2009 1:00PM by Chris JohnsonChris Johnson RSS Feed
Filed under: Options, Stocks to Buy

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World Series Trade #6 - Progressive Corp. (PGR)Voted MLB's best ballpark in 2008, Cleveland's Progressive Field boasts the name of Ohio-based Progressive Corp. (NYSE: PGR).

Drawn down by the financial crisis and credit freeze of 2008, Progressive fell to $10 per share. With it now trading around $16, I consider the stock a bullish candidate given its fundamental strength and the fact that 82% of the analyst community ranks this stock as a "hold." I think the analysts will wake up and start upgrading the stock, driving buyers back into the insurer.

I think the stock will move another 20% higher over the next six months toward the $20 level, so consider buying some call options on PGR.

For the complete list of World Series trades, click here.

And for more of the hottest stocks to buy and sell, check out:

Tags: options trades, PGR, Progressive Corp., top trades

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Last updated: November 23, 2009: 01:25 AM

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