3 DAYS AGO | 11.10AMQBE looks cheap vs. peers — Macquarie
QBE is about 10 per cent cheaper than its global peers, according to Macquarie.
“While QBE has traded at as much as a 20 per cent discount to our Absolute QBE index, historically the stock price has rebounded from such levels and the current 10 per cent discount been a consistent relative value indicator,” the broker says.
In addition to the PE discount, US bond yields’ performance since late June should support QBE’s share price performance as its price has historically been positively correlated to periods of rising US bond yields, Macquarie adds.
It keeps an Outperform rating and $11.30 target on the stock.
QBE shares were last down 1.7 per cent at $9.39.
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Last
$16.36 |
Change
0.020(0.12%) |
Mkt cap ! $24.62B | |||
| Open | High | Low | Value | Volume |
| $16.19 | $16.53 | $16.12 | $48.34M | 2.959M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 824 | $16.34 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $16.38 | 1336 | 2 |
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| Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
| QBE (ASX) Chart |