Brown & Brown price target lowered to $85 from $88 at BofA

BofA lowered the firm’s price target on Brown & Brown to $85 from $88 and keeps a Neutral rating on the shares. Q1 operating EPS of $1.39 was a miss compared to the firm’s estimate of $1.41, but slightly exceeds Street consensus of $1.37, the analyst noted. The firm’s 2026, 2027 and 2028 EPS estimates fall 1.4%, 3.1% and 3.1%, respectively, on lower revenue forecasts following the report.