BMO Capital analyst Michael Zaremski reiterated a Market Perform rating and $298.00 price target on Willis Towers Watson (NASDAQ: WTW).

The analyst commented, "While today's announcement materially lowers WTW's organic growth (consensus) and EBITDA profiles, we view it as removing a "tail-risk" in that we/BMO estimated this business was under profit pressure, which could also lead to organic sales misses later this year (Medicare Malaise Remains Manageable So Long As Sales Don't Collapse). Additionally, given Tranzact was already running at a slight cash flow drag, FCF estimates will not be negatively impacted. Recall, WTW's FCF vs. reported earnings levels run lower than peers largely due to WTW's lower FCF conversion level."

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Shares of Willis Towers Watson closed at $300.58 yesterday.