Citi initiated coverage of Marsh McLennan (MMC) with a Neutral rating and $226 price target The firm rolled out coverage in North America insurance, expecting pricing and reinvestment tailwinds to ease but for earnings to remain resilient. Citi sees more opportunities for upside in the shares of underwriters relative to brokers. Its top ideas include Arch Capital (ACGL), Aspen Insurance (AHL), Brown & Brown (BRO), Chubb (CB), Ryan Specialty (RYAN) and RenaissanceRe (RNR).
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Read More on MMC:
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- Marsh McLennan initiated with an Overweight at Cantor Fitzgerald
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- Marsh McLennan price target lowered to $258 from $261 at UBS
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