Piper Sandler lowered the firm’s price target on Arthur J. Gallagher (AJG) to $280 from $295 and keeps an Overweight rating on the shares ahead of the company’s mid-quarter conference call on December 16th. Following a third quarter result that was incrementally not great, the firm thinks forward looking commentary on the call will hold a fair amount of weight. If organic growth outlook is incrementally less optimistic, Piper believes Arthur J. Gallagher risks losing the potential of a greater premium valuation than where it currently trades.
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