Brown & Brown (BRO) PT Lowered at Truist, but 'Better Days Should be Ahead'

Truist Securities analyst Mark Hughes lowered the price target on Brown & Brown (NYSE: BRO) to $120.00 (from $130.00) while maintaining a Buy rating.

The analyst commented: "BRO Uniquely Exposed to FL Property Downdraft, Better Days Should be Ahead; Reducing Price Target to $120; We are maintaining our full-year 2025 EPS estimate of $4.20 and raising our 2026 forecast to $4.90 from $4.60 per share, boosted by the Accession acquisition, partially offset by slightly lower assumed organic growth (now 3.5%). We are trimming our price target to $120 from $130 to better reflect the more modest organic outlook; our target multiple of 17x our 2026 EBITDAC estimate of $2.6 billion assumes the company makes up half the current discount to large-cap group leader Gallagher (AJG, Hold) at 20x this year’s EBITDA."

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