BofA Securities analyst Grace Carter maintains $Brown & Brown (BRO.US)$ with a hold rating, and sets the target price at $117.
According to TipRanks data, the analyst has a success rate of 78.9% and a total average return of 11.0% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Brown & Brown (BRO.US)$'s main analysts recently are as follows:
Insurance brokers are maintaining a positive outlook on organic growth projections for 2024. The expectation is for large-cap broker organic growth to stay robust in the third quarter. Nonetheless, there's an anticipation of a gradual deceleration in the underlying growth towards long-term norms throughout 2025 to 2026. Changes in targets across the sector are reflective of events that unfolded during the quarter and a generalized increase in market P/E multiples.
The third-quarter results, especially for reinsurers, might be impacted by the recent Hurricane Milton. There is a positive outlook on the Personal lines due to improving margins and growth in policies-in-force. For the third quarter, catastrophe losses are anticipated to be lower than the five-year seasonal average but still significantly higher than the same quarter of the previous year, which may pose a challenge for primary insurers.
Note:
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