JPMorgan upgraded Aon plc to Overweight from Neutral with a price target of $321, down from $351. The analyst says weaker organic growth and pessimism about the NFP deal are creating an attractive entry point for investors with a time horizon beyond 2024. The firm forecasts business trends in the property and casualty sector to be healthy in 2024, but believes the risk/reward in stocks is not compelling. It sees the best value in personal lines stocks given ongoing price hikes and an expected recovery in auto margins.
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