Marsh & Mclennan Companies (MMC) Receives a Buy from Wells Fargo
Wells Fargo analyst Elyse Greenspan maintained a Buy rating on Marsh & Mclennan Companies (NYSE: MMC) yesterday. The company’s shares closed yesterday at $83.53.
“We believe the insurance brokers should show continued strong organic growth in Q3 and we believe those with the strongest growth and prospects for earnings estimates to be revised up are positioned to outperform. Top on the list to us is AJG as it is best positioned to beat organic growth expectations and the stock should positively respond. We have been getting the most questions on Willis of late – and our view is that it is hard to say with certainty that the Q2 organic slowdown is only a one quarter issue and we believe a big focus will be placed on the Q3 growth the company sees.”
According to TipRanks.com, Greenspan is a 4-star analyst with an average return of 6.0% and a 67.0% success rate. Greenspan covers the Financial sector, focusing on stocks such as American International Group, Renaissancere Holdings Ltd, and United Insurance Holdings.
Currently, the analyst consensus on Marsh & Mclennan Companies is a Moderate Buy with an average price target of $93.67, representing a 12.1% upside. In a report issued on September 25, Raymond James also downgraded the stock to Sell.
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Marsh & Mclennan Companies’ market cap is currently $42.19B and has a P/E ratio of 26.10. The company has a Price to Book ratio of 5.47.
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Marsh & McLennan Cos., engages in the provision of advice and solutions in the areas of risk, strategy, and human capital. It operates through the following business segments: Risk and Insurance Services, and Consulting.