Jefferies Downgrades Brown & Brown to Hold, Lowers Price Target to $78
Portfolio Pulse from Benzinga Newsdesk
Jefferies analyst Yaron Kinar has downgraded Brown & Brown (NYSE:BRO) from Buy to Hold and reduced the price target from $85 to $78, indicating a more cautious outlook on the company's stock.
January 09, 2024 | 12:20 pm
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Jefferies analyst downgrades Brown & Brown from Buy to Hold and lowers price target to $78, suggesting a potential slowdown in stock appreciation.
Analyst downgrades typically lead to a negative short-term reaction in the stock market as they suggest a less optimistic view on the company's future performance. The reduction in price target further implies that the expected upside for the stock is now lower than previously estimated.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100