RBC Capital upgraded Brown & Brown to Outperform from Sector Perform with an unchanged price target of $81. Brown’s business has strong organic growth momentum and favorable trends will continue in 2024, the analyst tells investors in a research note. The firm thinks there is room for solid earnings growth and margin expansion in the years ahead as Brown remains a diligent operator that manages costs well. It views the stock’s valuation as attractive considering Brown & Brown’s margin and growth potential.
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