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UPDATE: Goldman Sachs Upgrades Marsh & McLennan Companies to Buy on Organic Growth, Sentiment

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Goldman Sachs upgraded Marsh & McLennan Companies (NYSE: MMC) from Neutral to Buy and raised the price target from $36.00 to $40.00.

Goldman Sachs said, "MMC shares have lagged our underwriter coverage universe as beneficial P&C pricing trends have clearly driven better underwriter results while improvement has been less clear for brokers like MMC, and further, we had perceived elevated European risk to MMC's consulting business that did not materialize. With Europe in a “bend but not break” mode, we think macro headwinds are manageable and given better-than-expected organic growth from AON and other brokers in 4Q, we have more confidence in the potential for positive organic growth offsets."

Marsh & McLennan Companies closed at $36.14 on Tuesday.

Latest Ratings for MMC

DateFirmActionFromTo
Jul 2014CitigroupMaintainsNeutral
Jul 2014Evercore PartnersInitiates Coverage onOverweight
Apr 2014CitigroupMaintainsHold

View More Analyst Ratings for MMC
View the Latest Analyst Ratings

Posted-In: Goldman SachsAnalyst Color Upgrades Analyst Ratings

 

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