Market Overview

UPDATE: Credit Suisse Raises PT to $51 on Aon on UK Redomestication

Share:
Related AON
Earnings Recap For February 5
Aon Reports Q4 Results, Notes 'Strong Performance' In A Year Of 'Substantial Volatility'
InsiderInsights.com Daily Round Up 2/11/16: HCP, PAGP, TPX, NSH (Seeking Alpha)

Credit Suisse raises its price target on Aon (NYSE: AON) from $49 to $51 and reiterates its Neutral rating on shares.

Credit Suisse comments, "Aon recently became the first company within the S&P 500 to re-domicile to the U.K. from the U.S. Based on our analysis of the accounting regime in the U.K relative to the U.S., we believe Aon will save at least $50 million ($0.15) annually by 2013 via a lower effective tax rate. …We were surprised by the muted stock price reaction upon the proposed change and subsequent approval of the re-domestication, and believe that Aon's shares should benefit by +4% as investors begin to understand the positive impact the re-domestication should have on Aon's future after-tax earnings streams."

AON closed at $46.81 on Wednesday.

Latest Ratings for AON

DateFirmActionFromTo
Feb 2016Keefe Bruyette & WoodsMaintainsMarket Perform
Jan 2016Keefe Bruyette & WoodsMaintainsMarket Perform
Sep 2015Sterne Agee CRTInitiates Coverage onNeutral

View More Analyst Ratings for AON
View the Latest Analyst Ratings

Posted-In: Credit SuisseAnalyst Color Price Target Reiteration Pre-Market Outlook Analyst Ratings

 

Related Articles (AON)

Get Benzinga's Newsletters