12:45 AM EDT, 04/26/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We trim our 12-month target price by $10 to $275, valuing WTW shares at 15.4x our '25 adjusted EPS estimate of $17.90 (raised today by $0.40) and at 17x our '24 EPS estimate of $16.20 (upped by $0.15), vs. its one-year average forward multiple of 15.4x and a peer average of 21.6x. Q1 2024 EPS of $3.29, vs. $2.84, topped our $3.12 EPS estimate and the $3.25 consensus view, before restructuring and other charges of $1.38 vs. $0.58. Revenue growth of 4% lagged our 5% to 8% forecast, and is below many peers. We lower our '24 revenue forecast to a rise of 4% to 7%, and see growth of 4% to 8% in '25. At current levels, the shares trade at 15.7x our '24 EPS estimate, a more than 25% discount to the peer group average. We believe WTW has continued to struggle competitively in the aftermath of its terminated merger with rival broker Aon. We applaud WTW's restructuring actions, but we think a below-peer rate of top-line growth removes a catalyst from the shares' ability to close their valuation gap to peers.