Wells Fargo analyst Elyse Greenspan maintains $Brown & Brown (BRO.US)$ with a buy rating, and adjusts the target price from $112 to $114.
According to TipRanks data, the analyst has a success rate of 64.5% and a total average return of 8.6% 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 maintain a generally optimistic stance concerning organic growth prospects for 2024. It is broadly anticipated that large-cap broker organic growth will continue to surpass the average in Q3. Nonetheless, there is an expectation for a gradual deceleration of the group's underlying growth towards long-term averages as we approach 2025-26. Changes in targets throughout the quarter, as well as a general expansion in market P/E multiples, have been observed.
Q3 results, especially those of reinsurers, might be eclipsed by the recent Hurricane Milton, with a more favorable view held on the Personal segment due to improvements in margins and policies-in-force. For Q3, catastrophe losses are anticipated to be lower than the five-year seasonal average, yet significantly higher than those in the third quarter of the prior year, possibly affecting primary insurers negatively.
Note:
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