Deutsche Bank Downgrades Willis Towers Watson (WLTW) to Sell

Deutsche Bank downgraded Willis Towers Watson (NASDAQ: WLTW) from Hold to Sell with a price target of $122. Analyst Joshua Shanker doesn't think the company will meet 2018 EPS expectations.

"Following a September 30 investor day, bullish investors came away with the conclusion that current management had a grasp on the issues that have plagued Willis over a multi-year time frame. We were more skeptical, viewing optimism about 2018 EPS goals ($10.10+) above Street consensus ($9.97) as more of a ceiling than a floor. We believe that near-term newsflow is likely to bring down buy-side enthusiasm. Modest downside to our target price combined expectation of downward earnings revisions informs our Sell rating," said Shanker.

For an analyst ratings summary and ratings history on Willis Towers Watson click here. For more ratings news on Willis Towers Watson click here.

Shares of Willis Towers Watson closed at $128.76 yesterday.

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