Brown & Brown price target lowered to $90 from $100 at Truist

Truist lowered the firm’s price target on Brown & Brown to $90 from $100 and keeps a Buy rating on the shares. The firm reduced its 2026 EPS estimate based mainly on lower organic growth, which it now looks to equal 1.1%, down from its prior forecast of 2.4%. The firm added that its reduced price target assumes the company trades at a multiple just ahead of the group average on this year’s EBITDA and below its eight-year norm of 15x-16x.