UPDATE: Credit Suisse Starts Willis Towers Watson (WTW) at Outperform

(Updated - September 26, 2022 4:58 AM EDT)

Credit Suisse analyst Andrew Kilgerman initiates coverage on Willis Towers Watson (NASDAQ: WTW) with a Outperform rating and a price target of $288.00.

The analyst comments "We think the company is on track to improve its margins and overall financial performance to near those of its industry peers by 2024. WTW trades at 11.9x our 2023E earnings, versus AON’s 18.8x and MMC’s 20.3x. We do not debate AON and MMC’s solid record of EPS growth and margin expansion. However, we think WTW can close the financial performance gap and re-rate to its peers, given its many potentially meaningful growth and cost-saving initiatives. WTW’s HWC segment also does not appear to be recognized for its underlying value, and could be a catalyst for higher valuation as it continues to grow and contribute more to earnings."

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 $200.34 yesterday.

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