RBC Capital analyst Scott Heleniak upgraded Marsh McLennan (MMC) to Outperform from Sector Perform with a price target of $250, up from $242. The firm views Marsh as a “high-quality insurance broker” with good visibility into solid sales and earnings growth into 2025. The company’s business mix provides diversification and leaves it less sensitive to changes in property and casualty pricing as the cycle deepens, the analyst tells investors in a research note. RBC expects the McGriff acquisition to strengthen Marsh’s middle market presence and views the stock’s valuation as attractive, noting it trades at a discount to certain peers.
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Read More on MMC:
- Marsh McLennan upgraded to Outperform from Sector Perform at RBC Capital
- Marsh McLennan resumed with an Outperform at Evercore ISI
- 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