Brown & Brown price target raised to $94 from $92 at Truist

Truist analyst Mark Hughes raised the firm’s price target on Brown & Brown to $94 from $92 and keeps a Buy rating on the shares after its Q1 earnings beat. The company’s CEO commentary remained upbeat about the P&C market conditions, indicating that the growth backdrop had not materially changed compared to the last quarter of 2023 and that rate increases for most lines should be sustained in coming quarters, the analyst tells investors in a research note.