Arthur J. Gallagher price target raised to $370 from $365 at Argus

Argus raised the firm’s price target on Arthur J. Gallagher (AJG) to $370 from $365 and keeps a Buy rating on the shares. The company has recently reported a 14% y/y increase in Q1 revenue to $3.7B as Brokerage revenue of $3.3B rose 17% from the prior year, and the firm expects organic growth of more than 9% in the Brokerage unit in 2025 compared to the management’s forecast of 6%-8%, the analyst tells investors in a research note. Argus adds that it is positive on the stock long term given the company’s organic growth, dividend increases, acquisition strategy, and $1.5B share buyback authorization.