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Arthur J. Gallagher price target lowered to $249 from $272 at Piper Sandler

Piper Sandler analyst Paul Newsome lowered the firm’s price target on Arthur J. Gallagher (AJG) to $249 from $272 and keeps a Neutral rating on the shares. The firm notes the company reported a better-than-expected bottom line driven by acquisition revenues and other items. While management continues to be optimistic about its future organic revenue growth, the results reflect what Piper believes is a deteriorating business environment and continued competition.

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