Aon Faces Challenges With Integration Risks And Slow Growth: BofA Downgrades Stock
Aon Faces Challenges With Integration Risks And Slow Growth: BofA Downgrades Stock
BofA Securities analyst Grace Carter downgraded Aon plc (NYSE:AON) to Underperform from Neutral and cut the price target from $345 to $306.
美銀證券分析師格蕾絲·卡特將怡安集團（紐約證券交易所代碼：AON）的評級從中性下調至表現不佳，並將目標股價從345美元下調至306美元。
The analyst writes that AON has recently underperformed the insurance broker peer group owing to below-average organic growth, integration risk from the $13.4 billion NFP acquisition, and management changes.
該分析師寫道，由於有機增長低於平均水平、134億美元NFP收購帶來的整合風險以及管理層變動，怡安最近的表現低於保險經紀同行群體。
Notably, since 2H22, Aon's Commercial Risk Solutions segment has reported organic revenue growth in the 3%- 6% range , compared to comparable peer results averaging 7%- 10%, says the analyst.
值得注意的是，分析師表示，自22年下半年以來，怡安的商業風險解決方案板塊報告的有機收入增長在3％至6％之間，而同行同行的平均增長率爲7％-10％。
Carter projects gradual improvement in organic growth but concedes a downside compared to the estimates if current challenges persist more than expected.
卡特預計，有機增長將逐步改善，但他承認，如果當前的挑戰持續超出預期，則與估計相比將出現下行趨勢。
The analyst says re-establishing investor confidence could take time for the company, slowing a return to historical valuation levels.
這位分析師表示，重建投資者信心可能需要時間，從而減緩公司恢復到歷史估值水平的速度。
The analyst sees EPS of $11.93 for FY24 and $14.83 for FY25, sharply below the consensus.
分析師預計，24財年的每股收益爲11.93美元，25財年的每股收益爲14.83美元，大大低於市場預期。
In April, AON reported first quarter FY24 adjusted EPS of $5.66, missing the consensus of $5.91 and sales of $4.070 billion, coming below the street view of $4.126 billion.
4月，怡安公佈的24財年第一季度調整後每股收益爲5.66美元，未達到預期的5.91美元和40.70億美元的銷售額，低於41.26億美元的街景。
Investors can gain exposure to the stock via Litman Gregory Funds Trust Polen Capital International Growth ETF (NYSE:PCIG) and Hennessy Stance ESG ETF (NYSE:STNC).
投資者可以通過利特曼格雷戈裏基金信託基金波倫資本國際增長ETF（紐約證券交易所代碼：PCIG）和軒尼詩立場ESG ETF（紐約證券交易所代碼：STNC）獲得股票敞口。
Also Read: Aon Analysts Slash Their Forecasts After Downbeat Earnings
另請閱讀： 怡安分析師在收益慘淡後下調了預測
Price Action: AON shares are down 1.51% at $285.61 at the last check Wednesday.
價格走勢：在週三的最後一次檢查中，怡安股價下跌1.51％，至285.61美元。
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譯文內容由第三人軟體翻譯。