Piper Sandler lowered the firm’s price target on Goosehead Insurance (GSHD) to $122 from $132 and keeps an Overweight rating on the shares. Goosehead is almost entirely on personal lines, and pricing for personal lines insurance is “as hard as we have ever seen it.” Goosehead has been growing far faster than its large commercial insurance focused peers. Its worst organic growth quarter would likely be one of the best for its larger peers. Its margins are just beginning to rise, Piper adds.
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