RBC Capital analyst Scott Heleniak lowered the firm’s price target on Brown & Brown to $77 from $81 and keeps an Outperform rating on the shares as part of a broader research note on Insurance names. Fundamentals on P&C insurance stocks remain healthy for 2024 as the outlook for ROEs, combined ratios, and earnings remains attractive, though with insurance and brokerage stocks performing reasonably well in 2023, a fair case can be made to be less bullish vs. recent years, the analyst tells investors in a research note.
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