Deutsche Bank Starts Arthur J. Gallagher (AJG) at Hold; Core Operations: Expect Modest Organic Growth and Flat Margins

Deutsche Bank initiates coverage on Arthur J. Gallagher (NYSE: AJG) with a Hold. PT $32.00.

Deutsche analyst says, "Though we believe that the company has turned a corner and is on track for earnings growth, we note that (1) growth is already fully priced into the stock and (2) non-core operations are the greatest source of earnings improvement. As such, we cannot recommend the richly valued shares of AJG at this time, but would revisit should we witness broader and more meaningful P&C rate improvement."

For an analyst ratings summary and ratings history on Arthur J. Gallagher click here. For more ratings news on Arthur J. Gallagher click here.

Shares of Arthur J. Gallagher closed at $31.17 yesterday.

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