QBE - UBS rates the stock as Buy
PUBLISHED
2021-05-03
Content
UBS highlights QBE Insurance Group has exposure to large corporate accounts in speciality lines via international operations. Further, this division was responsible for the strongest premium rate increase in 2020 and rose by 16.6% in the second half of 2021.
The broker expects the rate increase to settle down in 2021 but remain high single-digit or low double-digits. The company should also have a gradual flow through of rate in earnings, adds the broker.
Buy with a target of $10.25.
Sector: Insurance.
Target price is $10.25.Current Price is $9.86. Difference: $0.39 - (brackets indicate current price is over target). If QBE meets the UBS target it will return approximately 4% (excluding dividends, fees and charges - negative figures indicate an expected loss).