As previously reported, BofA downgraded Marsh McLennan (MMC) to Underperform from Neutral with a price target of $181, down from $243 based on a lower outlook for organic growth with near-term headwinds from softening property rates. The firm does not foresee any near-term catalysts supporting Marsh McLennan’s organic growth and revised down its EPS forecast due to lower growth in concert with lessened margin expansion.
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