TWFG initiated with a Market Perform at Keefe Bruyette

Keefe Bruyette analyst Tommy McJoynt initiated coverage of TWFG with a Market Perform rating and $27 price target. TWFG is well positioned to continue generating solid organic growth based on the “best-in-class” support infrastructure it provides to agents, the analyst tells investors in a research note. However, the firm says personal lines rates have likely peaked while the company’s “dry powder opportunity presents M&A execution risk.”