Goldman Sachs lowered the firm’s price target on Brown & Brown to $82 from $87 and keeps a Neutral rating on the shares. The company’s Q4 results, inclusive of a 2 percentage point organic growth, were a miss relative to the management guidance provided last quarter, which is illustrative of the difficulty in projecting growth trends amidst a softening P&C pricing environment, the analyst tells investors in a research note.
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