WTW price target raised to $365 from $335 at Truist

Truist raised the firm’s price target on WTW to $365 from $335 and keeps a Buy rating on the shares after the company announced it has reached an agreement to sell its TRANZACT direct-to-consumer Medicare Advantage distribution operation to GTCR and Recognize for $632M. The deal is expected to close by the end of this year and will involve the recognition in Q3 of impairment charges of $1.6B-$2.1B, the firm notes.