UPDATE: Deutsche Bank Downgrades Aon PLC to Hold; No Near-Term Catalysts
Deutsche Bank reduces its rating on Aon PLC (NYSE: AON) from Buy to Hold and reduces its price target from $55 to $52.
Deutsche Bank comments, "We continue to expect long-term earnings growth from Aon, built on the investments currently made in the business. However, as these upfront investments infringe on margins and associated revenues are not expected to pick-up materially before 2013, we find it difficult to recommend the stock at this time. With no short-term growth and trading at a mere 7% discount to its strongly executing peer, MMC, we do not see a near-term catalyst on the horizon."
AON closed at $47.83 on Monday.
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Tags: Deutsche Bank