Hi Paul I am a long suffering holder of QBE shares. Following their recent results announcement the shares have finally returned to the price I paid for them. Do you think there is any more upside to their share price?
A: Yes, I do think there is more upside, and that is notwithstanding the 9.2% gain since QBE reported last week. Unquestionably, one of the better reports which beat all forecasts – with strong top-line growth. Insurance premiums are on the rise! Among the brokers, lots of talk about “QBE turning the corner”.
Back to the brokers, according to FN Arena, the consensus target price is $13.99, 10.6% higher than the last ASX price of $12.64. Range is a low of $12.40 through to a high of $14.55. 6 buy recommendations, 1 neutral recommendation.
