UPDATE: Deutsche Bank Downgrades Aon PLC to Hold; No Near-Term Catalysts

Deutsche Bank reduces its rating on Aon PLC

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.