UPDATE: Wells Fargo Downgrades Aon Corp (AON) to Equal Weight

Wells Fargo analyst Elyse Greenspan downgraded Aon Corp (NYSE: AON) from Overweight to Equal Weight with a price target of $326.00.

The analyst comments "Following earnings, we are moving to the sidelines on AON and downgrading our rating to Equal Weight from Overweight. The shares have been on a good run lately, trading up 37.6% since pulling the Willis merger on 7/26 versus the insurance broker average excluding BRP and RYAN (up 13.4% over the same time period) and the S&P which is up 4.4%. Given the recent strength in the shares and the Q4 expense headwinds, we are using this as a time to downgrade our rating, Our price target is now $326 (up from $321) and is based on our blended P/E, EV/EBITDA, and FCF valuation analysis."

For an analyst ratings summary and ratings history on Aon Corp click here. For more ratings news on Aon Corp click here.

Shares of Aon Corp closed at $319.92 yesterday.

You May Also Be Interested In

• Seaport Global Securities Downgrades JetBlue Airways (JBLU) to Neutral
• Deutsche Bank Downgrades Netskope (NTSK) to Hold on Valuation
• UBS: 'We Believe Dollar Tree (DLTR) is Turning From a Transformation to a Growth Story'