Credit Suisse has upgraded QBE to Outperform from Neutral

Tom McKay

Credit Suisse has upgraded QBE to Outperform from Neutral. The insurer's share price has risen a net 30% year to date, including a more recent 15% pullback. The pullback however, reflects deteriorating macroeconomic factors, and the broker believes that the insurance environment remains favourable with margins set to improve. With the stock now trading 20% below the broker's $17.25 target (last close $14.75), an upgrade to Outperform follows. If QBE meets the Credit Suisse target, it will return approximately 17%. Based on the last close, the stock's estimated price-to-earnings ratio is 14.46.


Tom McKay

I'm the Managing Director and Co-Founder of Livewire. I'm passionate about collecting and curating the markets most informed insights every day so that our members can discover new investment ideas. If you would like to get in touch - please use...

Expertise

Australia equities

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