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.
Published first on TheFly
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Read More on BRO:
- Brown & Brown (NYSE:BRO) Posts Spectacular Q4 Results
- Brown & Brown, Inc. announces quarterly revenues of $901.4 million, an increase of 22.1%, diluted net income per share of $0.51 and Diluted Net Income Per Share – Adjusted of $0.50
- Brown & Brown reports Q4 adjusted EPS 50c, consensus 46c
- Brown & Brown initiated with an Outperform at BMO Capital
- Brown & Brown, Inc. Announces Quarterly Cash Dividend
