Arthur J. Gallagher price target raised to $255 from $240 at RBC Capital

RBC Capital analyst Mark Dwelle raised the firm’s price target on Arthur J. Gallagher to $255 from $240 and keeps an Outperform rating on the shares. The company’s Investor Day presentation offered few surprises with organic growth expectations for the second half tracking consistent with recently issued guidance, the analyst tells investors in a research note. The P&C rate environment remains positive with the average renewal premium change for Arthur J. Gallagher coming in at 11% for July/August, while its margin guidance was also consistent with recent commentary and its M&A pipeline remains at historically high levels, RBC added.