Brown & Brown price target raised to $122 from $116 at BMO Capital

BMO Capital analyst Michael Zaremski raised the firm’s price target on Brown & Brown to $122 from $116 and keeps an Outperform rating on the shares. The company’s acquisition of Accession Risk adds diversification that may become more relevant should commercial property pricing trends continue to fade, particularly in Florida, where Brown & Brown is overweight, the analyst tells investors in a research note.