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BMO Capital raised the firm’s price target on Marsh McLennan (MMC) to $228 from $217 and keeps a Market Perform rating on the shares after its Q3 earnings beat. The company can benefit from industry-wide technological changes as certain brokers are performing additional underwriting functions at the incremental cost of insurance carriers and less sophisticated peer brokers, while its recent hiring spree should also boost organic growth, the analyst tells investors in a research note.
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