Marsh & McLennan Companies Inc
MMC: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$196.00 | Bzxtx | Nlxzzksthy |
Marsh McLennan Earnings: Another Strong Quarter, but Growth Slows a Bit
Narrow-moat Marsh McLennan delivered another set of strong results, with organic year-over-year revenue growth of 6% for its second quarter. This is a bit of a contraction from the rates we have seen recently, but growth remains modestly above our long-term expectations. We will maintain our $167 fair value estimate and see the shares as materially overvalued. While we appreciate the recent strength the company has shown, we think long-term growth prospects are modest and the market is overly focused on recent results.