（本报记者马国英、张洋、张璁、易舒冉）
Фото: Дмитрий Ермаков / «Лента.ру»
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BofA points out that the sector currently trades at 22x trailing free cash flow and 15 times enterprise value to trailing Ebitda. While bulls might argue that the stocks look cheap after falling 24% from peak valuations set a year ago, BofA cautions that these multiples have merely returned to pre-pandemic levels. Furthermore, BofA asserts that insurance distribution firms frequently utilize liberal earnings “adjustments”—such as excluding integration costs from their steady stream of acquisitions—that tend to significantly flatter their true earnings power.
Фото: Denis Balibouse / Reuters
Gen Sir Richard Shirreff says US president has launched war of choice in Iran with no clear grasp of how it will end