BofA raised the firm’s price target on Brown & Brown to $80 from $77 and keeps a Neutral rating on the shares after the company reported Q4 adjusted EPS that beat the firm’s forecast and consensus. Upon integrating Q4 results into the firm’s model, BofA’s forward EPS estimates net rise on higher organic growth, the analyst tells investors, adding that the firm sees “relatively modest upside” based on its revised target.
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