Brown & Brown upgraded to Outperform from Neutral at Mizuho

Mizuho upgraded Brown & Brown to Outperform from Neutral with a price target of $85, up from $84. The firm adjusted ratings in the insurance property and casualty group following the recent sector selloff. There is “low disruption threat” to the insurance brokerage names who focus on middle-market and larger accounts from AI, the analyst tells investors in a research note. Mizuho believes disintermediation risk is “geared to mass market personal lines and the smaller end of SME.”