Insurance broker & underwriting agency operator AUB has been an outperformer through 2023, helped by a 4th guidance upgrade in August. The stock has struggled like many over recent weeks, but the risk/reward is now looking attractive after its valuation has fallen to more justifiable levels, all 9 of the analysts that cover this stock have it pegged as a buy with a target price over 25% higher – we wouldn’t be surprised to see new 2023 highs if/when the market regains its mojo.
- We like the risk/reward towards AUB around the $27 area after the stocks’ ~18% correction.
MM is bullish toward AUB ~$27
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