Piper Sandler analyst Paul Newsome lowered the firm’s price target on Ryan Specialty (RYAN) to $43 from $58 and keeps a Neutral rating on the shares following quarterly results. The firm cites a miss versus consensus and Piper’s estimates driven by lower-than-expected margins and organic growth. 2026 guidance was worse than expected. The firm thinks most investors hoped for double-digit 2026 organic growth but flat margins, but guidance was for high single digit organic and flat to down margins.
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