Marsh McClennon Faces Downside After Ratings Cut

3 months ago

Critty Gupta

"I do want to bring to everyone's attention one that is taking a little bit of a hit this morning. It's one that definitely again was not on my bingo card. Uh Marsh Mlennon is getting a pretty uh volatile reaction to a cut ratings change over Bank of America. They got cut to underperform a price target of $181 a share. Um they're currently trading at $176. MMC is your ticker down about 1%. But this is making the rounds because it looks like Bank of America or at least the analyst is saying that the price target is now 181 down from $243 they had previously. So, a pretty decent cut based on a lower outlook for their organic growth. They're also not seeing any near-term catalyst to support the company's stock."

The segment focuses on Marsh McClennon's vulnerability following a ratings downgrade, with Bank of America cutting its price target from $243 to $181 and a lack of near-term catalysts. The ticker MMC is highlighted as trading down roughly 1%, indicating a bearish outlook.

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