Wells Fargo raised the firm’s price target on Arthur J. Gallagher to $274 from $266 and keeps an Overweight rating on the shares. The firm notes the company provided a consistent view with organic and margin color unchanged for Q4 and for 2024. Estimates go down modestly for slightly higher corporate costs. The tax credit balance is now $200M due to change in accounting with its October tax return, Wells adds.
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