Wells Fargo raised the firm’s price target on Arthur J. Gallagher (AJG) to $370 from $341 and keeps an Overweight rating on the shares. the firm notes the company hosted a bullish update pointing to Q1 Brokerage organic of 9%-10% driven by mid-teens in reinsurance. Wells also highlights margin improvement over 300bps in Brokerage in Q1 above its 60bps. Arthur J. Gallagher positive it will get AP deal done, the firm adds.
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