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QBE - Morgans rates the stock as Add
BY BROKER NEWS - 18/08/2017 | VIEW MORE BROKER UPDATES

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QBE - QBE INSURANCE GROUP LIMITED


QBE's result beat consensus by 24% but disappointment stemmed from a reduction in 2017 guidance to the bottom end of the previous range. QBE also downgraded in June due to a weak Emerging Markets business, which appears still to be the case, the broker suggests.

There were positives nevertheless, the broker suggests, mainly improvement in the combined operating ratio in both the US and A&NZ. The broker has cut earnings forecasts and its target to $12.55 from $13.09. Add retained.

Sector: Insurance.

Target price is $12.55.Current Price is $11.17. Difference: $1.38 - (brackets indicate current price is over target). If QBE meets the Morgans target it will return approximately 11% (excluding dividends, fees and charges - negative figures indicate an expected loss).



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The content of this information does in no way reflect the opinions of FN Arena, or of its journalists. In fact we don't have any opinion about the stock market, its value, future direction or individual shares. FN Arena solely reports about what the main experts in the market note, believe and comment on. By doing so we believe we provide intelligent investors with a valuable tool that helps them in making up their own minds, reading market trends and getting a feel for what is happening beneath the surface. This document is provided for informational purposes only. It does not constitute an offer to sell or a solicitation to buy any security or other financial instrument. FN Arena employs very experienced journalists who base their work on information believed to be reliable and accurate, though no guarantee is given that the daily report is accurate or complete. Investors should contact their personal adviser before making any investment decision.

 

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