Market Overview

UPDATE: Credit Suisse Initiates Coverage On Willis Group As Self-Help Margin Story Is Reflected In Valuation

Share:

In a report published Wednesday, Credit Suisse analyst Ryan Tunis initiated coverage on Willis Group Holdings PLC (NYSE: WSH) with a Neutral rating and $49.00 price target.

In the report, Credit Suisse noted, "As a result of the company's operational improvement initiative that we think will cumulatively produce $420mm of cost saves over the next three years, we see organic margins improving 1 pt a year from 18% to 21% by the end of 2017. WSH's comp ratio has historically been several points higher than its broker peers, and we are constructive on WSH's ability to achieve its $300mm annualized savings target over the next three years as it manages employee-related expense.

Willis Group closed on Tuesday at $48.18.

Latest Ratings for WSH

DateFirmActionFromTo
Nov 2015UpgradesSellHold
Jul 2015UpgradesSellNeutral
Jul 2015UpgradesNeutralBuy

View More Analyst Ratings for WSH
View the Latest Analyst Ratings

Posted-In: Credit Suisse Ryan TunisAnalyst Color Initiation Analyst Ratings

 

Related Articles (WSH)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
REGNGuggenheimUpgrades
CIGIScotiaBankUpgrades
WMTBairdMaintains130.0
XLNXBairdMaintains110.0
GRBKBTIGUpgrades13.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

Receptos Completes Enrollment of RADIANCE Phase 3 Trial of Ozanimod in Relapsing Multiple Sclerosis

Atlantic Power Announces Agreement for the Sale of its Wind Portfolio