Brown & Brown price target lowered to $105 from $114 at Truist

Truist analyst Mark Hughes lowered the firm’s price target on Brown & Brown to $105 from $114 but keeps a Buy rating on the shares. The commercial P&C market is on a much more even keel than is reflected in the current valuation, and the stock should be purchased now, when sentiment is still negative, especially around coastal property, the analyst tells investors in a research note.