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Brown & Brown to trade lower on miss in Retail segment, says BMO Capital

BMO Capital analyst Michael Zaremski expects Brown & Brown shares to trade weaker today even though the company reported an overall Q4 earnings beat, stating that the larger Retail segment missed expectations on organic growth and margins. The analyst maintains however that Brown & Brown should grow earnings and free cash flows in double digits this year given the high likelihood that insurance brokers pass through the property rate increases in 2023. The firm also maintains an Outperform rating and $67 price target on the stock.

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