Brown & Brown price target raised to $104 from $94 at Truist

Truist raised the firm’s price target on Brown & Brown to $104 from $94 and keeps a Buy rating on the shares ahead of its Q2 results. The company’s organic growth is expected to be largely in line with Street expectations, the analyst tells investors in a research note. Florida should be a tailwind for the company over time, Truist added, further noting that the insurance brokers in general are attractive on a risk-adjusted basis because they are less sensitive to economic recession, interest rate movements, credit deterioration, and the impact of inflation on reserves.