Raymond James upgraded Baldwin Group (BWIN) to Strong Buy from Outperform with a price target of $30, up from $20. The shares have dropped 23% year-to-date due in part to AI concerns and near-term headwinds on organic revenue growth, the analyst tells investors in a research note. The firm cites valuation and Baldwin’s 2026 growth profile for the upgrade. Management emphasized that share repurchases are the best use of cash in the near term due to the current valuation, Raymond James points out.
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