In a report released on July 11, Michael Zaremski from BMO Capital maintained a Buy rating on Brown & Brown, with a price target of $122.00.
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Michael Zaremski has given his Buy rating due to a combination of factors, including the belief that Brown & Brown’s current market position presents a unique opportunity for growth. Despite the recent increase in short interest, which is at its highest since 2015, Zaremski sees this as a reflection of the market’s underestimation of the company’s potential.
He anticipates that the insurance inflation in the small to mid-sized brokerage sector will surpass that of larger accounts, which could lead to faster organic growth for Brown & Brown. Additionally, Zaremski identifies significant potential for increased M&A revenue over time, which further supports his positive outlook on the stock.