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Downgrade Alert for Brown & Brown (BRO)

By Amy Schwartz

Brown & Brown (NYSE:BRO) was downgraded from Buy to Hold at Deutsche Bank today. The stock closed yesterday at $36.58 on volume of 1.2 million shares, above average daily volume of 712,000.

Brown & Brown (NYSE:BRO) is currently priced 2.8% above its average consensus analyst price target of $35.55. Brown & Brown shares have support at the 50-day moving average (MA) of $34.66 and additional support at the 200-day MA of $32.56.

Over the past year, Brown & Brown has traded in a range of $28.41 to $39.12 and closed yesterday at $36.58, 29% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.8%.

Brown & Brown, Inc. and its subsidiaries provide a range of insurance and reinsurance products and services. The Company also provides risk management, employee benefit administration, and managed health care services. Brown & Brown operates offices across the United States.

SmarTrend recommended that subscribers consider buying shares of Brown & Brown on February 5th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $31.54. Since that recommendation, shares of Brown & Brown have risen 19.3%. We continue to monitor BRO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades brown & brown

Ticker(s): BRO