Redburn Atlantic initiated coverage of Marsh McLennan (MMC) with a Buy rating and $281 price target offering 21% potential upside. The company’s business mix presents the most compelling opportunity across growth and valuation in the U.S. insurance broker group, the analyst tells investors in a research note. As the world’s largest broker, Marsh is well positioned to benefit from structural drivers, contends Redburn. The firm believes Marsh provides insulation from insurance pricing volatility due to its greater diversification away from commission-based revenues.
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