Marsh & McLennan (MMC) PT Lowered to $178 at Jefferies

Jefferies analyst Yaron Kinar lowered the price target on Marsh & McLennan (NYSE: MMC) to $178.00 (from $181.00) while maintaining a Buy rating.

The analyst commented, "We are encouraged by resilient organic growth across RIS and Consulting, but continue to assume a recessionary environment in 2023 that would result in slower organic. Still, we expect organic to remain positive in a shallow recession, supported by pricing and inflation, and expect EPS growth to continue. We modestly lower our margin estimates, primarily due to mix, and lower non-core EPS. Remains Buy. PT to $178, 15% return."

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