Aon plc price target lowered to $433 from $436 at JPMorgan

JPMorgan analyst Jimmy Bhullar lowered the firm’s price target on Aon plc (AON) to $433 from $436 and keeps an Overweight rating on the shares as part of a Q3 preview for the property and casualty insurance group. The firm says margins for the insurers and growth for brokers have peaked and will moderate further. However, fundamentals in the business are healthy and sentiment is “downbeat” following the recent stock underperformance, the analyst tells investors in a research note. As such, JPMorgan believes the sector is positioned to outperform.