BMO Capital Upgrades Marsh & McLennan (MMC) to Outperform; Pullback Creates Buying Chance
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BMO Capital upgraded Marsh & McLennan (NYSE: MMC) from Market Perform to Outperform with a price target of $76.00 (from $75.00), saying the recent pullback creates a buying opportunity.
Analyst Charles Sebaski commented, "We believe the recent pullback in MMC shares offer a compelling entry point for investors to build a position in a best-in-class name with an implied +20% total return over the next year. Marsh is a franchise name in the insurance/business services space; however, it is trading in line with the broader market despite a business model that has and, we believe, will continue to produce superior results. We expect top-line growth of +4.4%, EPS growth of 11.2%, and margin expansion of 70 bps for 2017."
Shares of Marsh & McLennan closed at $63.64 yesterday.
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