BMO Capital raised the firm’s price target on Marsh McLennan (MMC) to $228 from $217 and keeps a Market Perform rating on the shares after its Q3 earnings beat. The company can benefit from industry-wide technological changes as certain brokers are performing additional underwriting functions at the incremental cost of insurance carriers and less sophisticated peer brokers, while its recent hiring spree should also boost organic growth, the analyst tells investors in a research note.
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Read More on MMC:
- Marsh McLennan price target raised to $212 from $211 at Wells Fargo
- Marsh McLennan price target raised to $230 from $220 at Roth MKM
- Marsh McLennan price target raised to $242 from $232 at RBC Capital
- Marsh McLennan reports Q3 adjusted EPS $1.63, consensus $1.61
- MMC Earnings Report this Week: Is It a Buy, Ahead of Earnings?
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