Sterne Agee Sees Current Valuation as Attractive on Brown & Brown

In a report published Tuesday, Sterne Agee analyst Dan Farrell reiterated a Buy rating and $38.00 price target on

. In the report, Sterne Agee noted, “While core EPS looks about $0.01 lower than our estimate and consensus at $0.42, the core earnings growth is still a solid 15%. Moderately higher expenses vs. our forecast were partly offset by higher acquisition revenues while organic growth was essentially in line. We reiterate our Buy rating as we feel the current discounted valuation is attractive given a double-digit earnings growth outlook.” Brown & Brown closed on Monday at $30.22.