Deutsche Bank Sees 11% Downside In Willis Group Holdings
In a research report issued today, Deutsche Bank analyst Joshua Shanker reiterated a Sell rating on Willis Group Holdings (NYSE:WSH) with a price target of $36, which represents a potential downside of -11% from where the stock is currently trading.
Shanker noted, “Willis management appears unwilling to predict when and at what level EBIT margins will bottom, and the benefits associated with current restructuring effects will likely be negligible over the near-term. Unfavorable Pound/Rupee foreign exchange comparisons that have led Willis to report one-time boosts to its reported EPS numbers seem to be over. Our expectation of further earnings disappointment leads us to maintain our Sell recommendation on WSH shares.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Joshua Shanker has a total average return of 8.8% and a 57.4% success rate. Shanker is ranked #657 out of 3355 analysts.