Market Overview

UPDATE: Sterne Agee Upgrades Brown & Brown to Buy on Organic Growth, Valuation

Share:
Related BRO
7 Must Watch Stocks for January 23, 2017
Earnings Scheduled For January 23, 2017
Brown & Brown Insurance beats by $0.01, beats on revenue (Seeking Alpha)

Sterne Agee raised its rating on Brown & Brown (NYSE: BRO) from Neutral to Buy and increased its price target from $30 to $31.

Sterne Agee commented, "BRO's organic growth should continue to benefit from P&C rate increases (could see further benefit off Hurricane Sandy losses) and improving economic comparisons. While margin expansion has lagged organic improvement, we feel margins will expand in 2013 as organic accelerates & investments into the business moderate. Given significant balance sheet flexibility, M&A will also remain a key driver. With valuation attractive given our earnings growth outlook, we are upgrading to Buy."

Brown & Brown closed at $25.65 on Friday.

Latest Ratings for BRO

DateFirmActionFromTo
Dec 2016JP MorganUpgradesUnderweightNeutral
Dec 2016BMO CapitalUpgradesUnderperformMarket Perform
Nov 2016BMO CapitalDowngradesMarket PerformUnderperform

View More Analyst Ratings for BRO
View the Latest Analyst Ratings

Posted-In: Sterne AgeeAnalyst Color Upgrades Intraday Update Analyst Ratings

 

Related Articles (BRO)

View Comments and Join the Discussion!