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Aon's Valuation Puzzle: Undervalued by One Measure, Overpriced by Another

Aon plc's (NYSE: AON) shares, hovering around $350, present a conundrum for investors. While a proprietary 'Excess Returns' model suggests a significant 35% upside, traditional price-to-earnings analysis indicates the stock may already be richly priced. This divergence highlights the complex factors at play in valuing the global professional services and insurance brokerage giant.