BofA Securities analyst Joshua Shanker maintains $Arthur J. Gallagher (AJG.US)$ with a sell rating, and adjusts the target price from $255 to $293.
According to TipRanks data, the analyst has a success rate of 64.4% and a total average return of 11.3% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Arthur J. Gallagher (AJG.US)$'s main analysts recently are as follows:
Insurance brokers maintain a generally positive outlook regarding organic growth prospects into 2024. It is broadly anticipated that large-cap broker organic growth will sustain above-average levels in the third quarter. Nevertheless, it is projected that the group's underlying growth will decelerate towards long-term averages in the 2025-2026 timeframe. These expectations take into account events transpiring throughout the quarter as well as a general expansion in the market's price-to-earnings multiples.
Q3 outcomes, especially for reinsurers, could be eclipsed by the recent Hurricane Milton, with expectations of catastrophe losses falling below the five-year seasonal norm but still notably higher than the same quarter in the previous year. There is an anticipation of improved margins and policies-in-force within the Personal sector. However, primary insurers might encounter potential downside risks.
Note:
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