RBC Capital raised the firm’s price target on Brown & Brown to $110 from $95 and keeps an Outperform rating on the shares. The company delivered another quarter of outperformance in Q2 with organic growth of 10%, which compares favorably to most of its larger broker peers, the analyst tells investors in a research note. Q2 was also an impressive quarter for margins, with EBITDAC margins up 150bps y/y, RBC added.
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