Brown & Brown price target raised to $95 from $87 at RBC Capital

RBC Capital raised the firm’s price target on Brown & Brown to $95 from $87 and keeps an Outperform rating on the shares. The firm is adjusting its model to reflect the company’s new EPS reporting methodology, as starting with Q1, Brown expects to report adjusted EPS excluding amortization from the calculation, the analyst tells investors in a research note. RBC also maintains its view that Brown & Brown is positioned to deliver “healthy organic growth” throughout 2024.