MKM Partners is a Long Term Believer in Willis Towers Watson (WLTW)
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MKM Partners analyst Harry Fong reiterated a Buy rating and $140 price target on Willis Towers Watson (NASDAQ: WLTW) noting investors were disappointed several weeks ago when Willis Towers Watson reported its third quarter results that were a penny shy of the consensus and a lowering of revenue expectations for the balance of 2016. The shares sold off on the report, but have since recovered to about its pre-earnings release level.
Fong commented, "Our view on WLTW remains the longer term potential for the private exchange business especially for smaller and medium sized firms, the market it is mostly focused on. Accordingly, we are maintaining our Buy recommendation with a $140 price target, based on a 17x P/E multiple on our 2017 earnings estimate of $8.35"
Shares of Willis Towers Watson closed at $124.56 yesterday.
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