NEW YORK (TheStreet) -- Shares of Willis Group Holdings PLC (WSH) are up 1.79% to $41.53 in early afternoon trading after the company was upgraded to "hold" from "sell" at Deutsche Bank earlier on Thursday.
The firm raised the price target to $40 from $36 for the London-based multinational risk advisor, insurance brokerage and reinsurance brokerage company.
Deutsche Bank set annual EPS to $2.36 from $2.31 for fiscal 2014, and to $2.52 from $2.53 for fiscal 2015.
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"We believe two impending large M&A deals will use up any excess cash and perhaps require additional debt, thereby increasing the overall leverage of the company," said Deutsche Bank research analyst Joshua Shanker.
Separately, TheStreet Ratings team rates WILLIS GROUP HOLDINGS PLC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate WILLIS GROUP HOLDINGS PLC (WSH) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income and revenue growth. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, generally higher debt management risk and premium valuation."