UPDATE: JP Morgan Downgrades Aon plc to Neutral on Limited Upside
JP Morgan downgraded Aon plc (NYSE: AON) from Overweight to Neutral and maintained $59.00 PT.
JP Morgan commented, "We find it difficult to argue for valuation expansion in AON shares now that organic growth rates have normalized in absolute and relative terms. We believe the next catalyst for the stock could be improved conversion of organic growth into margins (more in consulting than brokerage), but we believe that will likely be more visible in 2014, while upside to current estimates (ours and consensus) might require a stronger economic backdrop. With valuation now more in-line with peers, we see upside and risk-reward as average."
Aon plc closed at $56.13 on Friday.
Latest Ratings for AON
|Nov 2016||Keefe Bruyette & Woods||Upgrades||Market Perform||Outperform|
|Nov 2016||Sandler O'Neill||Upgrades||Hold||Buy|
|Oct 2016||RBC Capital||Downgrades||Outperform||Sector Perform|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.