ACE Offers Better Value Than MMC
Analysts at Goldman Sachs upgrade ACE Limited (NYSE: ACE) from “neutral” to “buy.” The 12-month target price for ACE is set to $61.
The upgrade in the rating is based on the recent weakness in ACE’s share price, the analysts say. According to Goldman Sachs, ACE’s share price was adversely affected by its absence from an index, the lack of a buyback and continuing concerns regarding some of the company’s business lines.
Goldman Sachs added, however, that these points do not warrant the trading of ACE Limited’s stock at a 15% discount to the book value.
Analysts at Goldman Sachs downgrade Marsh & McLennan Companies Inc (NYSE: MMC) from “buy” to “neutral.”
According to Goldman Sachs, the market underestimates the earnings power of MMC’s brokerage segment. The analysts believe that ACE Limited (NYSE: ACE) offers higher value than Marsh & McLennan.
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