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Brown & Brown price target raised to $112 from $104 at Truist

Truist raised the firm’s price target on Brown & Brown to $112 from $104 and keeps a Buy rating on the shares. The company’s solid Q2 result was consistent with positive signals from the E&S market and rate surveys, while the headwind from property was more limited than expected, the analyst tells investors in a research note. Brown & Brown looks set for healthy organic growth based on stronger new business, firmer casualty pricing, and easier year-over-year comps, the firm added.

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