Deutsche Bank Upgrades Arthur J. Gallagher (AJG) to Buy

Deutsche Bank upgraded Arthur J. Gallagher (NYSE: AJG) from Hold to Buy with a price target of $53.00 (from $50.00).

Analyst Joshua Shanker said, "We continue to favor brokers as the inflection in the pricing cycle will impact them less so than underwriters, and a rebounding global economy will help to drive exposure (and therefore organic) growth. Gallagher's cash return and ability to successfully amalgamate acquisitions will continue to drive strong operating performance in the coming year - and beyond. Current valuation multiples (margin expansion is not necessary) and our forward estimates for Gallagher earnings (which are relatively in-line with consensus), suggests material upside in AJG, which has lagged the market for over a year."

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 $44.71 yesterday.

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