Marsh McLennan downgraded to Neutral from Outperform at Mizuho

Mizuho analyst Yaron Kinar downgraded Marsh McLennan (MRSH) to Neutral from Outperform with a price target of $199, down from $213. The firm adjusted ratings in the insurance property and casualty group following the recent sector selloff. There is “low disruption threat” to the insurance brokerage names who focus on middle-market and larger accounts from AI, the analyst tells investors in a research note. Mizuho believes disintermediation risk is “geared to mass market personal lines and the smaller end of SME.”