Keefe Bruyette downgraded Brown & Brown to Market Perform from Outperform with a price target of $76, up from $73. Although the firm remains optimistic about Brown & Brown’s organic growth in 2023 and 2024, it sees the shares as fairly valued given their strong year-to-date performance versus its peers.
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- Brown & Brown price target raised to $77 from $72 at RBC Capital
- Brown & Brown price target raised to $85 from $82 at Truist
- Brown & Brown price target raised to $70 from $62 at Wells Fargo
- Brown & Brown, Inc. announces second quarter 2023 results, including total revenues of $1,047.3 million, an increase of 24.7%; Organic Revenue growth of 11.2%; diluted net income per share of $0.67; and Diluted Net Income Per Share – Adjusted of $0.68
- Brown & Brown reports Q2 adjusted EPS 68c, consensus 59c