Aon plc price target lowered to $393 from $450 at Cantor Fitzgerald

Cantor Fitzgerald lowered the firm’s price target on Aon plc (AON) to $393 from $450 and keeps a Neutral rating on the shares. The initial positive stance on insurance brokers appears premature and overly optimistic, as near-term fundamentals are likely to deteriorate before improving. While the subgroup remains interesting, negative consensus organic growth revisions are expected in the interim.