Brown & Brown price target raised to $85 from $84 at Wells Fargo

Wells Fargo raised the firm’s price target on Brown & Brown to $85 from $84 and keeps an Equal Weight rating on the shares. The firm notes Brown & Brown’s shares traded flat, most likely reflective of positioning into the print plus there were some one-timers in the Q1. That being said, Wells thought it was a good quarter and the stock would have performed better.