Deutsche Bank Downgrades Brown & Brown (BRO) to Hold
- Wall Street surges to new highs; transports set record
- lululemon athletica (LULU) Tops Q3 EPS by 4c; Adj.-Comps Outpaced Views
- Abbott (ABT) Files Complaint to Terminate Alere (ALR) Acquisition
- Costco Wholesale (COST) Tops Q1 EPS by 5c; Comps Up 1%, 2% Ex-Gas
- After-Hours Stock Movers 12/07: (VYGR) (LULU) (HRB( Higher; (OHRP) (VRNT) (CMTL) Lower (more...)
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Deutsche Bank downgraded Brown & Brown (NYSE: BRO) from Buy to Hold with a price target of $40.
Analyst Joshua Shanker said, "Brown & Brown reported $0.52 of 3Q16 adj. earnings and 4.3% organic revenue growth, and margins, while contracting from 3Q15, were ahead of our forecast. Despite headwinds of weak P&C pricing, particularly with regard to coastal catastrophe-exposed property, a Brown & Brown specialty, the company has shown resiliency. Following stock performance of over 20% over the past year, there isn't enough upside to our target price to maintain our Buy rating and so we downgrade to Hold."
Shares of Brown & Brown closed at $37.62 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Deutsche Bank Downgrades MGM Growth Properties (MGP) to Hold
- KLR Group Raise Price Target on Oasis Petroleum (OAS) to $22; Reiterates Buy
- Wedbush Raises Price Target on Francesca's (FRAN) Following 3Q Report
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Downgrades
Related EntitiesDeutsche Bank, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!