UPDATE: Deutsche Bank Raises PT to $36 on Marsh & McLennan

Deutsche Bank maintains its Buy rating on Marsh & McLennan MMC on an intact investment thesis for shares, and raises its price target by $2 to $36 to reflect a higher valuation multiple. Deutsche Bank says, "With 4Q11 results and management commentary during the earnings call suggesting that the thesis and forward estimates are largely intact, we maintain EPS estimates unchanged. We are raising our target price to $36 to reflect higher multiples, as fears regarding adverse impacts from weak economic conditions in Europe and lower interest rates have been largely put to rest and the impact appears contained." MMC closed at $31.89 a share on Tuesday.