BofA raised the firm’s price target on Brown & Brown to $117 from $116 and keeps a Neutral rating on the shares after Q4 operating EPS of 86c beat the firm’s estimate of 77c and Street consensus of 75c as organic growth of 13.8% ran ahead of the firm’s 11.2% expectation. The firm’s price target is “rising modestly in line with higher forecasts,” despite a slight tick-down in S&P 500 multiple, the analyst noted.
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