Baldwin Group initiated with a Buy at TD Cowen

TD Cowen initiated coverage of Baldwin Group (BWIN) with a Buy rating and $37 price target The P&C insurance broker placing both commercial and personal lines is poised for high single-digit organic revenue growth in 2026, with growth tailwinds driven by synergies from its recent CAC Group merger and its “robust embedded distribution network,” says the analyst, who calls the current valuation “compelling.”