Keefe Bruyette upgraded Marsh McLennan (MMC) to Market Perform from Underperform with a price target of $191, down from $209, following the Q3 earnings report. The shares are now reflecting persistently decelerating property and casualty pricing, the analyst tells investors in a research note. The firm believes Marsh’s “Thrive” program should sustain margin improvement despite slowing pricing and fiduciary income tailwinds.
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