Aon plc price target raised to $360 from $335 at MKM Partners

MKM Partners analyst Harry Fong raised the firm’s price target on Aon plc to $360 from $335 and keeps a Buy rating on the shares as part of a broader research note on P&C Insurance. The industry is in a "traditional reinsurance-led hard market" which should extend past the upcoming 1/1 reinsurance renewal, the analyst tells investors in a research note. Fong adds that while no one knows when this hard market will end, he believes that industry pricing will remain elevated without any aggressive price cutting for at least another year and possibly longer.