BMO Capital lowered the firm’s price target on Baldwin Group (BWIN) to $33 from $34 and keeps a Market Perform rating on the shares after the company entered definitive merger agreement with CAC Group. The firm expects investor sentiment to remain mixed to negative near term, but also notes that the deal provides an opportunity to improve overall/earnings quality and rebuild its multiple if it can execute, the analyst tells investors in a research note.
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Read More on BWIN:
- Balanced Outlook Amid Operational and Strategic Challenges: Hold Rating for Baldwin Insurance Group
- Baldwin Insurance Group Announces Merger with CAC Group
- Baldwin Group enters definitive merger agreement with CAC Group
- Baldwin Group price target raised to $34 from $33 at BMO Capital
- Baldwin Group price target lowered to $47 from $52 at UBS