Arthur J. Gallagher price target raised to $320 from $310 at RBC Capital

RBC Capital analyst Scott Heleniak raised the firm’s price target on Arthur J. Gallagher to $320 from $310 and keeps an Outperform rating on the shares. The company’s Investor Day presentation indicated that its organic growth trends remain healthy albeit with some expected deceleration expected in the second half of this year vs. the first half, the analyst tells investors in a research note. Arthur J. Gallagher’s M&A pipeline is also at the highest level that the firm can recall, implying a potentially “highly active” M&A period for the company over the next several months, RBC added.