WTW upgraded to Buy from Neutral at UBS

UBS upgraded WTW (WTW) to Buy from Neutral with a price target of $395, up from $344. The firm sees continued multiple expansion for WTW relative to the insurance brokerage group, saying its operating and free cash flow margins improve faster than peers. The shares have underperformed other brokers year-to-date following the company’s 2025 guidance, which resulted in downward estimates for 2025 and 2026, the analyst tells investors in a research note. UBS believes this is now largely reflected in the stock. WTW should be able to sustain organic revenue growth of 5.9% in 2025, higher than the consensus estimate of 5.2%. the firm adds.