TWFG price target raised to $33 from $28 at Keefe Bruyette

Keefe Bruyette raised the firm’s price target on TWFG (TWFG) to $33 from $28 but keeps a Market Perform rating on the shares. The firm is raising its forward estimates slightly to incorporate higher margins and stable/solid mid- teens organic growth, the analyst tells investors in a research note. While the stock has risen sharply however, this outsized growth has largely been attributed to “one captive carrier exiting certain lines and releasing its captive agents”, with the pace set to normalize, Keefe Bruyette added.