Cantor Fitzgerald lowered the firm’s price target on Marsh McLennan (MMC) to $208 from $226 and keeps an Overweight rating on the shares. The initial positive stance on insurance brokers appears premature and overly optimistic, as near-term fundamentals are likely to deteriorate before improving. While the subgroup remains interesting, negative consensus organic growth revisions are expected in the interim.
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Read More on MMC:
- Marsh McLennan price target lowered to $199 from $212 at Wells Fargo
- Marsh McLennan price target raised to $210 from $206 at Barclays
- Marsh McLennan price target raised to $199 from $196 at Goldman Sachs
- Marsh McLennan price target lowered to $236 from $237 at Evercore ISI
- Marsh McLennan price target lowered to $226 from $242 at JPMorgan