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.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
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
- Marsh McLennan price target raised to $212 from $211 at Wells Fargo
- Marsh McLennan price target raised to $230 from $220 at Roth MKM