Keefe, Bruyette & Woods Downgrades Aon Corp (AON) to Market Perform; Int'l Pressure and Lowered Outlook on HR Solutions

Keefe, Bruyette & Woods downgraded Aon Corp (NYSE: AON) from Outperform to Market Perform, price target lowered to $52.00.

KBW analyst said, "AON's ROCK was benefiting $0.01 from F/X and $0.02-$0.03 from a low tax rate. Brokerage revenues were up 3% and the margin was 21.8%, both near our estimate. Consulting grew 3% but the margin of 12.4% missed our 14.0%. Due to economic pressures in Europe and a lower near-term outlook for HR Solutions, we are lowering our EPS estimates, price target, and our rating."

KBW cuts FY12 EPS estimate from $3.75 to $3.45 and FY13 from $4.10 to $3.90.

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 $49.37 yesterday.

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