A readthrough of results from AUB Group’s New Zealand peer Arthur J. Gallagher suggests to Macquarie it’s organic and acquisition growth assumptions for AUB Group are on-track.
Commentary from Arthur J. Gallagher revealed Australia and New Zealand combined grew 6%, while premium rates were up around 3-4%. In such a supportive environment, the broker retains Outperform and a $25.52 target.
Sector: Insurance.
Target price is $25.52.Current Price is $22.03. Difference: $3.49 – (brackets indicate current price is over target). If AUB meets the Macquarie target it will return approximately 14% (excluding dividends, fees and charges – negative figures indicate an expected loss).
