Willis Towers Watson (WTW) PT Raised to $365 at Truist Securities on TRANZACT deal

Truist Securities analyst Mark Hughes raised the price target on Willis Towers Watson (NASDAQ: WTW) to $365.00 (from $335.00) while maintaining a Buy rating.

The analyst commented: "WTW announced it has reached an agreement to sell its TRANZACT direct-to-consumer Medicare Advantage distribution operation to GTCR (Private) and Recognize (Private) for $632 million. The deal is expected to close by the end of this year and will involve the recognition in 3Q of impairment charges of $1.6-$2.1 billion. Our $365 price target (from $335) equates to a 4.0% yield on 2025 free cash flow, still above the peer norm of 3.5%, supported by rising valuations in the sector"

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