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Boston Omaha price target lowered to $22 from $25 at TD Cowen

TD Cowen lowered the firm’s price target on Boston Omaha (BOC) to $22 from $25 and keeps a Buy rating on the shares. The firm said Boston Omaha’s 2Q results fell short of expectations, with insurance weighed down by a higher loss ratio and reserve additions as a percentage of earned premium. They reduced 2H billboard and insurance estimates.

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