Goosehead Insurance price target raised to $59 from $50 at Piper Sandler

Piper Sandler analyst Paul Newsome raised the firm’s price target on Goosehead Insurance to $59 from $50 and keeps an Overweight rating on the shares. The analyst generally likes the insurance brokers into the Q1 reports. Insurance companies are still talking about positive exposure growth which is a sign that the economy is still helping organic growth, the analyst tells investors in a research note. The firm cites a change in peer multiples and a lower discount rate for the target raise on Goosehead.