Wells Fargo analyst Elyse Greenspan maintained a Buy rating on Arthur J Gallagher & Co (AJG) yesterday and set a price target of $85. The company’s shares closed yesterday at $74.92.
Greenspan observed:
“We are adjusting our estimates modestly to reflect the updated CFO commentary, although we are maintaining our 2018, 2019, and 2020 EPS estimate of $3.43, $3.97, and $4.42, respectively. We are maintaining our $85 price based on an 18x multiple on 2019 cash earnings (ex-Clean Energy) and assigning $5/share value to the NPV of its tax credits. We reaffirm our Outperform rating and think AJG is on track to continue reporting industry leading organic growth.”
According to TipRanks.com, Greenspan is a 3-star analyst with an average return of 1.1% and a 50.5% success rate. Greenspan covers the Financial sector, focusing on stocks such as American International Group, Marsh & Mclennan Companies, and Renaissancere Holdings Ltd.
Arthur J Gallagher & Co has an analyst consensus of Moderate Buy, with a price target consensus of $80.13.
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The company has a one-year high of $79.03 and a one-year low of $62.04. Currently, Arthur J Gallagher & Co has an average volume of 1.02M.
Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is negative on the stock.
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Arthur J. Gallagher & Co. engages in the provision of insurance brokerage, consulting, and third party claims settlement and administration services to both domestic and international entities. It operates through the following segments: Brokerage, Risk Management, and Corporate.
