Goosehead Insurance price target lowered to $111 from $125 at Cantor Fitzgerald

Cantor Fitzgerald analyst Ryan Tunis lowered the firm’s price target on Goosehead Insurance (GSHD) to $111 from $125 and keeps an Overweight rating on the shares. The initial positive stance on insurance brokers appears premature and overly optimistic, as near-term fundamentals are likely to deteriorate before improving. While the subgroup remains interesting, negative consensus organic growth revisions are expected in the interim.