Arthur J. Gallagher & Co. (NYSE:AJG) Price Target Lowered to $315 by Goldman Sachs, Keeps Buy Rating

Goldman Sachs has lowered the price target on Arthur J. Gallagher & Co. (NYSE:AJG) to $315 from $361 while keeping a Buy rating. The company reported strong Q3 earnings with revenue reaching $3.3 billion, up 20% YoY, but missed estimates. Net earnings margin was 13.8%, and adjusted EBITDAC margin was over 32%. Gallagher has been active in acquisitions this year, including the acquisition of AssuredPartners for approximately $13.8 billion.