Brown & Brown (BRO) Will Outgrow Peers in FY13 - Deutsche Bank
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Price: $70.54 -1.49%
Rating Summary:
5 Buy, 19 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
5 Buy, 19 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Deutsche Bank reiterated a Buy rating on Brown & Brown (NYSE: BRO) and raised its price target to $31.00 (from $29.00).
“Brown & Brown (NYSE: BRO) has lost its premium valuation relative to peers in recent years as its organic brokerage revenue growth rate has lagged the peer group,” said analyst Joshua Shanker.
“While this lack of growth related to the U.S. recession--particularly in Florida, Michigan and California--it hasn't resumed with the benefit of a slow U.S. economic recovery. We expect that the combination of the Arrowhead acquisition, lagging commissions from installment premiums and Florida Intracoastal rate approvals will lead to growth in excess of peers in 2013,” added Shanker.
For an analyst ratings summary and ratings history on Brown & Brown click here. For more ratings news on Brown & Brown click here.
Shares of Brown & Brown closed at $26.13 yesterday.
“Brown & Brown (NYSE: BRO) has lost its premium valuation relative to peers in recent years as its organic brokerage revenue growth rate has lagged the peer group,” said analyst Joshua Shanker.
“While this lack of growth related to the U.S. recession--particularly in Florida, Michigan and California--it hasn't resumed with the benefit of a slow U.S. economic recovery. We expect that the combination of the Arrowhead acquisition, lagging commissions from installment premiums and Florida Intracoastal rate approvals will lead to growth in excess of peers in 2013,” added Shanker.
For an analyst ratings summary and ratings history on Brown & Brown click here. For more ratings news on Brown & Brown click here.
Shares of Brown & Brown closed at $26.13 yesterday.
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