Truist lowered the firm’s price target on Brown & Brown to $120 from $130 and keeps a Buy rating on the shares following the Q2 report. The firm cites the company’s more modest organic growth outlook for the target cut. Even with slower organic growth, shares of Brown & Brown are attractively valued, the analyst tells investors in a research note. Truist believes the company’s coastal property headwinds should ease considerably in Q3.
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