Marsh McLennan upgraded to Strong Buy from Outperform at Raymond James

Raymond James upgraded Marsh McLennan (MRSH) to Strong Buy from Outperform with a price target of $225, down from $240. Marsh’s high-quality earnings profile, consistent margin expansion, and strongest credit metrics in the peer group position it as an attractive risk-reward upgrade candidate following the valuation reset, the analyst tells investors in a research note. With limited exposure to ongoing Howden-related litigation, industry-low CDS spreads, and guidance for mid-single-digit organic growth alongside a 19th consecutive year of margin expansion, the company remains well supported by digital infrastructure demand, AI-related client investment, and productivity gains from its Thrive initiative, the firm says.