BUZZ-TD Cowen initiates coverage on Brown & Brown with a "Buy" rating, shares rise accordingly

October 12 - ** Insurance brokerage firm Brown & Brown (BRO.N) shares rose 1.45% to $63.79

** TD Cowen initiated coverage on the company with a “Buy” rating and a target price of $82, representing a 30% upside from the previous closing price

** The institution said the pressure from declining property insurance premiums has overshadowed its robust brokerage business

** Organic growth is expected to improve driven by synergies from the acquisition of Accession

** Of 24 brokers, 7 have a “Buy” or higher rating on the stock, 16 rate it “Hold,” and 1 rates it “Sell”; the median target price is $74.50 — data compiled by LSEG

** As of the previous trading day’s close, the stock is down 21.10% year to date

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