Brown & Brown (BRO) PT Raised to $42 at SunTrust Ahead of 3Q

SunTrust analyst Mark Hughes raised the price target on Brown & Brown (NYSE: BRO) to $42.00 (from $40.00) while maintaining a Buy rating ahead of the company's 3Q earnings release. Overall industry conditions appear to be marginally improved for Brown & Brown in the third quarter, with building momentum in both commercial pricing and wholesale volume somewhat offset by seasonal moderation in coastal property.

SunTrust EPS estimates for 3Q19 is $0.39, a penny above the Street mean of $0.38. Revenue estimate of $606 million assumes 1.5% organic growth and is somewhat below the consensus forecast of $610 million and 2.0%, respectively.

You May Also Be Interested In

• Bernstein SocGen Group Upgrades Analog Devices (ADI) to Outperform
• Moderna (MRNA) PT Raised to $89 at Morgan Stanley
• Morgan Stanley Downgrades Diamondback Energy (FANG) to Equalweight