BofA Downgrades Marsh & McLennan to Underperform, Cuts Price Target to $181

Core Viewpoint - BofA Securities has downgraded Marsh & McLennan Cos. to Underperform from Neutral, lowering the price target to $181 from $243 due to a weaker outlook for organic growth and challenges in the property insurance market [1] Group 1: Company Outlook - The firm anticipates slower organic revenue growth as property rate softness and broader economic uncertainty impact performance [1] - Near-term growth catalysts are seen as limited, with expectations for margin expansion being more muted than previously thought [1] Group 2: Earnings Projections - BofA has revised down its earnings projections, now forecasting 2027 EPS at $10.50, which is below the current consensus estimate of $11.14 [2] - There is a warning that Marsh & McLennan may miss consensus expectations due to slower growth and reduced profitability affecting results in upcoming quarters [2]