Insurance broker WTW rises after Raymond James upgrades to 'strong buy'

Willis Towers Watson

05/12/2024 14:12

** Shares of insurance broker Willis Towers Watson  WTW.O 
rise 1.6% to $337.99 premarket
    ** Raymond James upgrades WTW to "strong buy" from
"outperform"; raises PT to $400 from $365, a 20.3% upside to
stock's last close
    ** Brokerage says WTW management has successfully executed
its strategy over the last three years, resulting in
accelerating revenue growth and margin expansion
    ** Given management's refreshed strategy unveiled earlier
this week, brokerage now believes WTW can deliver results in
line if not better than its peers     
    ** WTW on Monday forecast mid-single digit growth and margin
expansion in its health, wealth & career segment in FY 2025
    ** It also expects mid-to-high single-digit growth and 100
bps of margin expansion over each of the next three years in its
risk & broking business
    ** Eleven of 21 brokerages rate the stock "buy" or higher,
nine "hold" and one "sell"; median PT $358.50 - LSEG data
    ** As of last close, WTW shares up 37.9% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))