Marsh McLennan price target lowered to $205 from $215 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Marsh McLennan to $205 from $215 and keeps an Equal Weight rating on the shares. Though quarterly results outperformed expectations due to solid Consulting revenue and the company continues to execute against its goals, the firm remains “watchful” of comps and benefit ratio, which it says “once again missed expectations.” Reflecting the results and updated 2024 guidance, the firm is lowering its 2024 EPS estimate by 17c to $8.39, the analyst noted.