Arthur J. Gallagher upgraded to Overweight from Neutral at Piper Sandler

Piper Sandler upgraded Arthur J. Gallagher (AJG) to Overweight from Neutral with a price target of $315, up from $285. The firm believes Arthur’s “successful track record of acquisitions and industry-leading organic growth” sets it apart from peers in the insurance broker group. The company’s recent acquisition of AssuredPartners will likely be accretive, which adds to the bull thesis, the analyst tells investors in a research note. The firm finds the stock’s valuation “interesting,” noting the shares are down since the acquisition of AssuredPartners.