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.
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