Goldman Sachs Upgrades Marsh & McLennan (MMC) to Buy

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Goldman Sachs upgraded Marsh & McLennan (NYSE: MMC) from Neutral to Buy with a price target of $40.00 (from $36.00).

The firm notes shares have lagged other underwriter as beneficial P&C pricing trends have driven better underwriter results while improvement has been less clear for brokers like MMC, and further.

"With Europe in a "bend but not break" mode, we think macro headwinds are manageable and given betterthan- expected organic growth from AON and other brokers in 4Q, we have more confidence in the potential for positive organic growth offsets," the analyst said.

For an analyst ratings summary and ratings history on Marsh & McLennan click here. For more ratings news on Marsh & McLennan click here.

Shares of Marsh & McLennan closed at $36.14 yesterday, with a 52 week range of $30.74-$36.18.

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