
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