Wells Fargo downgraded Ryan Specialty (RYAN) to Equal Weight from Overweight with a price target of $31, down from $42, following the fiscal Q2 report. The company lowered its fiscal organic growth guidance to mid-single-digits and expects greater margin pressure this year, the analyst tells investors in a research note. Wells cites Ryan’s below peer organic growth for the downgrade. The company is now targeting organic growth that is below the “best-in-class” retail brokers, the firm contends.
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