Redburn Atlantic analyst Daniel Sykes initiated coverage of Aon plc (AON) with a Neutral rating and $445 price target offering 14% potential upside. Redburn’s positive structural industry outlook is offset by caution regarding the company’s sensitivity to pricing and its historical performance in commercial risk, which has consistently underperformed that of its closest peer Marsh, the analyst tells investors in a research note. The firm believes Aon’s underperformance could be related to its geographical exposure.
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