Brown & Brown price target lowered to $72 from $80 at Barclays

Barclays analyst Alex Scott lowered the firm’s price target on Brown & Brown to $72 from $80 and keeps an Equal Weight rating on the shares. The firm adjusted targets in the insurance group as part of a Q1 preview. Premium growth and broker organic growth “are likely to remain sluggish,” the analyst tells investors in a research note. However, Barclays sees solid margins and strong capital deployment still contributing to reported book value growth in Q1.