Evercore ISI analyst David Motemaden resumed coverage of Marsh McLennan (MMC) with an Outperform rating and $242 price target following the McGriff acquisition. Marsh McLennan has underperformed peers by 5% since the deal was announced on September 30, which partly reflects very limited financial disclosure for such a large transaction as well as potential producer attrition that usually occurs with deals of this magnitude, the analyst tells investors in a research note. However, the firm’s estimates moved up slightly due to the positive impact of excluding deal related amortization.
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Read More on MMC:
- Marsh McLennan price target raised to $246 from $236 at Barclays
- Marsh & McLennan Expands with McGriff Acquisition
- Marsh McLennan price target raised to $228 from $217 at BMO Capital
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