02:05 PM EDT, 04/18/2024 (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 keep our 12-month target price of $215, valuing MMC shares at 22.8x our '25 adjusted EPS estimate of $9.45 and at 24.7x our '24 EPS estimate of $8.70 (raised by $0.10), versus the five-year average forward multiple of 22.8x and a peer average of 20.0x. MMC posted Q1 EPS of $2.89 versus $2.53, topping our EPS estimate and the consensus view of $2.80, amid 9% higher revenues (versus our 8% to 12% growth forecast) and a modest operating margin expansion (to 32% from 31.2%). Top-line growth was broad based, with both Risk & Insurance Services (RIS) and Consulting posting 9% growth, but RIS margins widened to 36.6% (from 35.7%), while Consulting margins were 19.5% versus 20.2%. Management remained upbeat on the earnings call about the demand and pricing trends in both insurance and reinsurance. We also expect MMC to continue to pursue bolt-on acquisition in its Consulting unit to diversify and support growth. We believe MMC's solid Q1 results will help support the shares' premium valuation to peers.