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AJG

Arthur J. Gallagher

$84.51

0.49 (0.58%)

, MMC

Marsh & McLennan

$95.85

0.36 (0.38%)

07:05
05/31/19
05/31
07:05
05/31/19
07:05

Arthur J. Gallagher to be a main beneficiary of Marsh/JLT deal, says Wells Fargo

Wells Fargo analyst Elyse Greenspan reiterated an Outperform rating and $93 price target on Arthur J. Gallagher (AJG), saying she believes the company will be a main beneficiary of the Marsh & McLennan (MMC) merger with JLT through the higher margin aerospace business it is acquiring from JLT and potentially taking on business that shakes out due to the deal. In a research note to investors, Greenspan says she thinks Arthur J. Gallagher is primed to see stronger than expected organic growth due to: benefits from business looking for a new home following the Marsh/JLT deal, and the pricing tailwinds it is seeing should at least remain at the same level as Q1 during the remainder of 2019.

AJG

Arthur J. Gallagher

$84.51

0.49 (0.58%)

MMC

Marsh & McLennan

$95.85

0.36 (0.38%)

  • 19

    Jun

  • 20

    Jun

AJG Arthur J. Gallagher
$84.51

0.49 (0.58%)

12/13/18
KBWI
12/13/18
DOWNGRADE
KBWI
Market Perform
Arthur J. Gallagher downgraded to Market Perform at Keefe Bruyette
03/05/19
WELS
03/05/19
NO CHANGE
WELS
Wells Fargo not convinced Willis Towers Watson deal with Aon would work
After Bloomberg reported that Aon (AON) is considering a bid to buy Willis Towers Watson (WLTW), Wells Fargo analyst Elyse Greenspan said the movements in both stocks following the report do not indicate to her that the market thinks a deal is coming. Overall, she sees regulatory issues being a big overhang for a deal that would combine the second and third largest insurance brokers and she is not convinced such a deal could get completed. If she were to be wrong, and such a deal comes together, Greenspan said she believes the net winner would be Arthur J. Gallagher (AJG), as they can take advantage by either buying additional businesses or taking people that want to leave or business that gets lost. Wells Fargo has Market Perform ratings on Aon and Willis and an Outperform rating on Gallagher shares.
04/05/19
WELS
04/05/19
DOWNGRADE
Target $95
WELS
Market Perform
Marsh & McLennan downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo analyst Elyse Greenspan downgraded Marsh & McLennan (MMC) to Market Perform from Outperform with an unchanged price target of $95. With the shares up 19% year-to-date, the analyst is taking the time to move to the sidelines. She views Marsh & McLennan's acquisition of JLT as a long-term positive but points out that "no large brokerage transactions have taken place without some hiccups along the way." For investors looking for exposure to the brokers, Greenspan continues to have an Outperform rating on Arthur J Gallagher (AJG).
04/26/19
RHCO
04/26/19
NO CHANGE
Target $95
RHCO
Buy
Arthur J. Gallagher price target raised to $95 from $85 at SunTrust
SunTrust analyst Mark Hughes raised his price target on Arthur J. Gallagher to $95 and kept his Buy rating after its Q1 earnings beat, also citing "acquisition timing and lower non-core clean coal revenue" behind the below-consensus revenue for the quarter. The analyst further points to the company's organic revenue growth of 5.7% in the Brokerage segment and 4.1% in Risk Management, adding that Arthur Gallagher appears to be "in excellent position to sustain top line growth and margin expansion based on momentum in the P&C sector".
MMC Marsh & McLennan
$95.85

0.36 (0.38%)

01/15/19
COMP
01/15/19
INITIATION
Target $86
COMP
Neutral
Marsh & McLennan initiated with a Neutral at Compass Point
Compass Point analyst Bijan Moazami initiated Marsh & McLennan with a Neutral and $86 price target saying he expects the JLT acquisition to be a "monumental" challenge and notes margin expansion has "halted."
02/08/19
DBAB
02/08/19
UPGRADE
Target $164
DBAB
Hold
Deutsche Bank upgrades Willis Towers Watson to Hold, boosts target to $164
Deutsche Bank analyst Joshua Shanker last night upgraded Willis Towers Watson (WLTW) to Hold from Sell and raised his price target for the shares to $164 from $149. With 2018 coming to a close, the free cash flow content of Willis Towers Watson's earnings has improved to a point where the "valuation discount to its peers is no longer materially under-representative," Shanker tells investors in a research note. A deeper valuation gap for Willis relative to peers shares Aon plc (AON) and Marsh & McLennan (MMC) "seems unmerited at this time," adds the analyst.
04/08/19
GSCO
04/08/19
INITIATION
Target $98
GSCO
Neutral
Marsh & McLennan reinstated with a Neutral at Goldman Sachs
Goldman Sachs analyst Yaron Kinar reinstated Marsh & McLennan with a Neutral and $98 price target.

TODAY'S FREE FLY STORIES

LGF.B

Lionsgate

$11.30

-0.04 (-0.35%)

, LGF

Use LGF.A, LGF.B

$0.00

(0.00%)

05:17
06/18/19
06/18
05:17
06/18/19
05:17
Recommendations
Lionsgate, Use LGF.A, LGF.B analyst commentary  »

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LGF.B

Lionsgate

$11.30

-0.04 (-0.35%)

LGF

Use LGF.A, LGF.B

$0.00

(0.00%)

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VRAY

ViewRay

$8.96

0.215 (2.46%)

05:14
06/18/19
06/18
05:14
06/18/19
05:14
Initiation
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DLAKY

Lufthansa

$0.00

(0.00%)

05:12
06/18/19
06/18
05:12
06/18/19
05:12
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Lufthansa rating change  »

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EVRZF

Evraz

$0.00

(0.00%)

05:11
06/18/19
06/18
05:11
06/18/19
05:11
Downgrade
Evraz rating change  »

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EVRZF

Evraz

$0.00

(0.00%)

05:10
06/18/19
06/18
05:10
06/18/19
05:10
Downgrade
Evraz rating change  »

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USM

U.S. Cellular

$44.15

0.375 (0.86%)

05:09
06/18/19
06/18
05:09
06/18/19
05:09
Upgrade
U.S. Cellular rating change  »

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TDS

Telephone and Data

$29.21

-0.11 (-0.38%)

05:08
06/18/19
06/18
05:08
06/18/19
05:08
Upgrade
Telephone and Data rating change  »

Telephone and Data…

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03/06/13
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ESS

Essex Property Trust

$302.21

3.03 (1.01%)

05:07
06/18/19
06/18
05:07
06/18/19
05:07
Downgrade
Essex Property Trust rating change  »

Essex Property Trust…

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  • 10

    Jul

  • 11

    Jul

CFPZF

Canfor

$0.00

(0.00%)

05:06
06/18/19
06/18
05:06
06/18/19
05:06
Upgrade
Canfor rating change  »

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WFTBF

West Fraser Timber

$0.00

(0.00%)

05:05
06/18/19
06/18
05:05
06/18/19
05:05
Upgrade
West Fraser Timber rating change  »

West Fraser Timber…

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RFP

Resolute Forest

$6.12

0.015 (0.25%)

05:05
06/18/19
06/18
05:05
06/18/19
05:05
Upgrade
Resolute Forest rating change  »

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DLAKY

Lufthansa

$0.00

(0.00%)

05:03
06/18/19
06/18
05:03
06/18/19
05:03
Downgrade
Lufthansa rating change  »

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ACCYY

Accor

$0.00

(0.00%)

05:02
06/18/19
06/18
05:02
06/18/19
05:02
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Accor rating change  »

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SNY

Sanofi

$42.65

0.19 (0.45%)

05:01
06/18/19
06/18
05:01
06/18/19
05:01
Downgrade
Sanofi rating change  »

Sanofi downgraded to Hold…

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  • 26

    Jun

  • 16

    Sep

AXELF

Axel Springer

$0.00

(0.00%)

04:59
06/18/19
06/18
04:59
06/18/19
04:59
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Axel Springer rating change  »

Axel Springer downgraded…

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OTSKY

Otsuka

$0.00

(0.00%)

04:58
06/18/19
06/18
04:58
06/18/19
04:58
Downgrade
Otsuka rating change  »

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LEN

Lennar

$53.01

-0.54 (-1.01%)

04:56
06/18/19
06/18
04:56
06/18/19
04:56
Downgrade
Lennar rating change  »

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  • 25

    Jun

KBH

KB Home

$26.21

-0.24 (-0.91%)

04:56
06/18/19
06/18
04:56
06/18/19
04:56
Downgrade
KB Home rating change  »

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  • 26

    Jun

VZ

Verizon

$57.63

-0.65 (-1.12%)

04:55
06/18/19
06/18
04:55
06/18/19
04:55
Conference/Events
Verizon to host sell side analyst meeting »

Analyst meeting to be…

03/08/13
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  • 18

    Jun

  • 20

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  • 26

    Jun

  • 27

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  • 09

    Jul

  • 01

    Aug

CVS

CVS Health

$54.52

0.34 (0.63%)

04:55
06/18/19
06/18
04:55
06/18/19
04:55
Conference/Events
CVS Health participates in a conference call with JPMorgan »

Healthcare Technology…

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  • 18

    Jun

  • 18

    Jun

ARWR

Arrowhead

$26.43

0.62 (2.40%)

04:55
06/18/19
06/18
04:55
06/18/19
04:55
Conference/Events
Arrowhead management to meet with Piper Jaffray »

Meeting to be held in San…

03/08/13
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  • 18

    Jun

HRB

H&R Block

$28.34

-0.35 (-1.22%)

04:55
06/18/19
06/18
04:55
06/18/19
04:55
Conference/Events
H&R Block management to meet with Northcoast »

Meeting to be held in…

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  • 18

    Jun

  • 16

    Jul

GIII

G-III Apparel

$25.67

-0.03 (-0.12%)

04:55
06/18/19
06/18
04:55
06/18/19
04:55
Conference/Events
G-III Apparel management to meet with KeyBanc »

Meeting to be held in New…

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  • 18

    Jun

  • 09

    Jul

DEI

Douglas Emmett

$41.86

0.595 (1.44%)

04:55
06/18/19
06/18
04:55
06/18/19
04:55
Conference/Events
Douglas Emmett management to meet with KeyBanc »

Meetings to be held in…

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  • 18

    Jun

BCOR

Blucora

$30.77

-0.98 (-3.09%)

04:55
06/18/19
06/18
04:55
06/18/19
04:55
Conference/Events
Blucora management to meet with Craig-Hallum »

Meeting to be held in…

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03/08/13
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  • 18

    Jun

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