Brown & Brown price target lowered to $65 from $82 at Raymond James

Raymond James lowered the firm’s price target on Brown & Brown to $65 from $82 and keeps an Outperform rating on the shares. Brown & Brown has sold off sharply despite expectations for continued positive organic revenue and EPS growth through 2026-2028 with strong free cash flow generation, leaving the stock trading at a discounted 13x 2026 P/E and 8.8% free cash flow yield that contrasts with prior trough valuation levels seen during its last period of negative organic growth, the analyst tells investors in a research note.