MKM Partners analyst Harry Fong raised the firm’s price target on Marsh McLennan to $175 from $160 and keeps a Neutral rating on the shares after its Q4 earnings beat. The company restructured some of its businesses, including some final changes related to the JLT acquisition, which impacted operating margins, but it expects to see $125M to $150M of forward expense savings in 2023, the analyst tells investors in a research note. Marsh McLennan recognizes that the general macro outlook has a number of potential disruptors, but the expected expense savings along with mid-single-digit or better underlying revenue growth is expected to lead the company to another year of strong growth in adjusted EPS, the firm adds.
Published first on TheFly
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