Marsh & McLennan Companies Inc

MMC: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$839.00	Cfyqcc	Bzxqqxkny

Marsh McLennan Earnings: Growth Slows

Brett Horn

Jan 25, 2024

Marsh McLennan produced a solid fourth quarter, but we see signs that growth may be normalizing. The company has been riding a number of tailwinds recently, and some of these benefits are likely starting to taper off. We will maintain our $157 fair value estimate for the narrow-moat company and see the shares as overvalued.

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