Deutsche Bank Reiterates Buy, $57 PT on Aon
In a note out today, Deutsche Bank reiterated a Buy rating and $57 price target on Aon (NYSE: AON), implying significant upside from current levels.
"The company announced this morning that it will be redomiciling, subject to shareholder approval, to the UK, moving its headquarters to London. The move, if approved, is expected in 2Q12. The timing of the announcement surprised us but not its essence, particularly as Aon becomes an increasingly internationally-focused business and London is by far the largest international insurance hub in the world," the bank said in the note.
Shares of Aon are down 1.2% today.
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