UBS Raises Price Target on Willis Towers Watson (WLTW) Following Investor Day
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UBS reiterated a Buy rating on Willis Towers Watson (NASDAQ: WLTW), and raised the price target to $145.00 (from $138.00), following investor day. UBS expects the company to show 4% organic revenue growth in 2017 and 2018, driven by double digit organic growth in the Exchange Solutions business and 3.5-4% growth in Corporate Risk and Brokerage.
Analyst Brian Meredith commented, "While peers AON (+21.1%) and MMC (+20.9%) have outperformed the market YTD, WLTW has been among the worst performers in our coverage (-0.5%) due to disappointing results, downward guidance and a somewhat muddled message. We see the Investor Day as an opportunity for WLTW management to clarify the story on margin improvement, revenue growth, free cash flow generation and capital management, potentially providing a catalyst for the shares."
Shares of Willis Towers Watson closed at $128.00 yesterday.
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