UPDATE: Deutsche Bank Cuts PT to $55 on Aon Corporation

Deutsche Bank lowers its target price on Buy-rated Aon Corporation (NYSE: AON) to $55 from $57 on depressed margins and modest buybacks.

Deutsche Bank says, "We are lowering EPS estimates to reflect modest margin deterioration in HR Solutions and a more modest rate of buybacks, both based on company guidance, as well as more modest margin growth in Risk Solutions. The lower EPS estimate for 2012 results in the decrease in our target price. Still, we continue to recommend shares of AON due to favorable earnings growth prospects in light of improving insurance market conditions and weak 1H11 comps, and as a result of three catalysts in the upcoming year."

AON closed at $48.68 a share on Monday.