13 Best Income Stocks With Highest Upside Potential

10. Brown & Brown, Inc. (NYSE:BRO)

Upside Potential as of February 28: 23.1%

On February 27, Mizuho upgraded Brown & Brown, Inc. (NYSE:BRO) to Outperform from Neutral. It raised the stock’s price target to $85 from $84. The firm made the change after adjusting ratings across the insurance property and casualty sector following the recent selloff. The analyst said insurance brokers that focus on middle-market and large accounts face a “low disruption threat” from AI. He also noted that disintermediation risk is “geared to mass market personal lines and the smaller end of SME.” This suggests that companies like Brown & Brown, which focus on larger clients, remain relatively well-positioned.

On February 17, J. Scott Penny, chief acquisitions officer of Brown & Brown, and Paul Bender, owner of The Protectorate Group Insurance Agency, announced that Brown & Brown Dealer Services acquired the assets of American Adventure Insurance. American Adventure provides insurance solutions at vehicle dealerships. Its coverage includes motor homes, travel trailers, campers, boats, personal watercraft, and motorcycles. The company also offers F&I products to automotive dealers and commercial insurance solutions.

Paul Bender leads American Adventure and brings more than 30 years of experience working with dealerships to provide insurance products directly to customers. The American Adventure team will join Brown & Brown Dealer Services and continue operating nationwide. Paul Bender and his team will report to Mike Neal, president of Brown & Brown Dealer Services.

Brown & Brown, Inc. (NYSE:BRO) is an insurance brokerage firm that provides customized insurance solutions. The company operates through more than 700 locations worldwide and employs over 23,000 professionals, serving customers across a wide range of industries.