Morgan Stanley initiated coverage of Arthur J. Gallagher (AJG) with an Overweight rating and $300 price target The firm expects the company to post “durable” organic growth through cycles despite the recent share declines. Arthur’s “strong” double-digit sales growth should continue in the near term, driven by organic growth and acquisitions, the analyst tells investors in a research note. Morgan Stanley sees an attractive valuation at current share levels.
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