2024-07-02 08:08:24 ET
Summary
- Stock gained 21.52% since bullish thesis.
- Hold rating due to nearing fair value.
- Technical indicators show cooling bullish trajectory, insiders aligned with shareholders, hold rational.
Investment Thesis
Since my previous bullish thesis published in September 2023, Brown & Brown, Inc. ( BRO ) stock has gained 21.52% with a total return of 22.15%. In my last coverage, I reiterated a buy rating with a price target of about $96 where my bullish stance was backed by a diversified business model and strategic acquisitions. While I still see these two factors as strong long-term growth levers, in this follow-up article I have a hold rating since this stock is almost hitting my price target which is its fair value, and therefore the upside potential is limited....
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For further details see:
Brown & Brown: Trading Near Fair Value, Hold But The Upside Is Limited (Technical Analysis)