New York, June 20 (FinanceEnquiry.com) – Analyst Cathy Seifert at S&P Capital IQ upgrades the ratings on the shares of Willis Group Holdings (NYSE: WSH) from HOLD to BUY. The 12-month target price has been raised from $38 to $42.
In a research note published yesterday, the analyst mentions that shares of Willis Group Holdings as undervalued when compared to some competitors and historical averages, particularly in light of a catalyst in the form of improved insurance pricing that has been seen emerging.
The revised target price assumes that the shares trade at 13.5X of $3.10 forecast for 2013. This still represents a slight (less than 5%) discount to the peer group average and is at the low end of the company’s historical price/earnings range. WSH shares currently yield 2.9%.
New York, June 20 (FinanceEnquiry.com) –
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