Crawford & Company price target lowered to $11 from $14 at Barrington

Barrington lowered the firm’s price target on Crawford & Company to $11 from $14 and keeps an Outperform rating on the shares. Crawford anticipated a difficult year-over-year comparison in Q4 due to a relative lack of severe weather in the second half of 2023 and Q4 results were in fact impacted by less severe weather activity, the analyst noted. However, despite the Q4 shortfall, the firm remains pleased with Crawford’s ability to win new business and gain market share and views the pullback post-earnings as a buying opportunity for long-term investors.