William Blair last night upgraded Baldwin Group to Outperform from Market Perform. The company has “pushed past its growing pains” and will be increasingly viewed as a quality compounder that can grow earnings in the 20% to 30% range over the medium to long term, the analyst tells investors in a research note. The firm says Baldwin has built a significant personal lines platform that differentiates it from the commercial-lines-focused core brokers. Blair sees the prospect for more consistent margin improvement and adjusted earnings growth, and a step-up in free cash flow that should support reinvestment and tuck-in acquisition activity.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BWIN:
- Baldwin Group upgraded to Outperform from Market Perform at William Blair
- Baldwin Group price target raised to $59 from $50 at BofA
- Baldwin Group price target raised to $54 from $45 at JPMorgan
- Baldwin Group price target raised to $46 from $38 at Jefferies
- Millenial Specialty Insurance unveils new brand as MSI