Aon plc price target raised to $421 from $406 at BofA

BofA analyst Joshua Shanker raised the firm’s price target on Aon plc (AON) to $421 from $406 and keeps an Underperform rating on the shares after the company reported Q4 results. The firm said its earnings per share forecasts modestly decline on lower share repurchases in 2025-2026, partially offset by higher margin expansion and stronger organic growth in Wealth, adding that its price target is higher based on the year-ahead S&P 500 price-equity ratio on the firm’s 2027 EPS estimate. However, lower organic growth compared to peers as well as concerns around free cash flow growth underlie the Underperform rating, the analyst tells investors in a research note.