Baldwin Group gets 'outperform' rating on M&A opportunities as BMO starts coverage

Baldwin Insurance,

27/03/2025 12:04

** BMO Capital Markets starts coverage on insurance distribution firm Baldwin Group's BWIN.O shares with "outperform" rating and $53 PT

** New PT represents 18% upside to stock's last close

** BMO says Baldwin Group's smaller size and presence in both commercial and personal segments enables it to execute on M&A opportunities that are accretive

** Brokerage expects company to win more M&A in 2026 and beyond owing to its improved free cash flow generation and stronger leverage position

** 6 of 9 brokerages rate the stock "buy" or higher, 2 "hold" and 1 "sell" or lower; median PT $51.50 - LSEG

** Company's shares up 15% so far this year

(Reporting by Kanchana Chakravarty in Bengaluru)

((Kanchana.Chakravarty@thomsonreuters.com))