WLTW - Arthur J. Gallagher Brown & Brown Marsh & McLennan initiated Buy at Jefferies
Jefferies analyst Yaron Kinar initiates shares of Arthur J. Gallagher (NYSE:AJG), Brown & Brown (NYSE:BRO) and Marsh & McLennan (NYSE:MMC) with a Buy rating on economic and property & casualty rate tailwinds, he writes in a note to clients. These tailwinds set up the insurance brokers for organic growth and margin improvement through scale, Kinar adds. The other business-to-business insurance brokers that Kinar initiates with a Hold rating include Aon (NYSE:AON), BRP Group (NASDAQ:BRP), Willis Towers Watson (NASDAQ:WLTW) and SelectQuote (NYSE:SLQT). Arthur J. Gallagher (AJG) is the analyst's top pick in this group, with the most near-term catalysts. Expects P&C rate tailwinds, economic recovery and vertical capabilities to support AJG's above-average organic growth in 2022 and 2023. Still, the Buy rating diverges from the Neutral Quant Rating, though it agrees with the Bullish Wall Street Analyst Rating (5 Very Bullish, 3 Bullish, 3 Neutral, 1 Bearish). Meanwhile, shares of AJG slip 1.6% in
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Arthur J. Gallagher, Brown & Brown, Marsh & McLennan initiated Buy at Jefferies