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Brown & Brown price target raised to $138 from $118 at Truist

Truist analyst Mark Hughes raised the firm’s price target on Brown & Brown to $138 from $118 and keeps a Buy rating on the shares ahead of its Q1 results. The company should continue to benefit from industry tailwinds that have helped to power industry-leading organic growth, even though Brown & Brown does face a challenging growth comparison in Q2 because of softening in the seasonally important property line, while the durability of the elevated growth in Programs is unclear, the analyst tells investors in a research note.

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