Wells Fargo raised the firm’s price target on Brown & Brown to $81 from $72 and keeps an Equal Weight rating on the shares. The firm notes Brown & Brown traded up owing to the company pointing to slight margin improvement in 2024, and rolling out cash EPS. Further, the company saw 10% organic ex reinsurance charge and was more positive on the economy than expected, Wells adds.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on BRO:
- Brown & Brown price target raised to $80 from $77 at BofA
- Brown & Brown, Inc. announces fourth quarter 2023 results, including total revenues of $1,026.2 million, an increase of 13.8%; Organic Revenue growth of 7.7%; diluted net income per share of $0.94; Diluted Net Income Per Share – Adjusted of $0.58; and a new alignment of its businesses into three segments
- Brown & Brown up 2.5% after Q4 earnings beat at $77.20
- Brown & Brown reports Q4 EPS 58c, consensus 53c
- Options Volatility and Implied Earnings Moves Today, January 22, 2024