Arthur J. Gallagher (AJG) PT Raised to $340 as RBC Sees 'Slight Q4 Upside'

RBC Capital analyst Scott Heleniak raised the price target on Arthur J. Gallagher (NYSE: AJG) to $340.00 (from $320.00) while maintaining a Outperform rating.

The analyst commented: "Slight Q4 upside on strong Brokerage margins; Gallagher generated solid organic growth across both units to close out the year, albeit similar to recent quarters. EBITDAC margins in the Brokerage segment improved more than 100 bps as the company continues to diligently manage costs. Key organic growth targets of 6% to 8% for FY'25 were reaffirmed. The Assured Partners acquisition is on track to close in late Q1 and we expect this deal to be additive to the company's platform on many facets over time. Apart from this, the M&A pipeline remains steady and healthy. We remain at Outperform."

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