Brown & Brown price target lowered to $85 from $91 at JPMorgan

JPMorgan lowered the firm’s price target on Brown & Brown to $85 from $91 and keeps a Neutral rating on the shares. The firm adjusted targets in the property and casualty space as part of a Q1 earnings preview. P&C brokerage multiples have traded off since early 2025 and are now approaching 2015-2016 levels, the analyst tells investors in a research note. JPMorgan says multiples “have pulled back enough to be more positive.”