CIMB considers QBE significantly de-risked after its recent capital raising and asset divestment, with a stronger balance sheet. A relatively clean result in 2014 should lead to a re-rating in the broker's opinion. The broker believes QBE has now significantly closed the reserving gap to its global peers. The stock appears cheap and CIMB maintains an Add rating. Target is raised to $12.60 from $12.20. Target price is $12.60 Current Price is $11.77 Difference: $0.83 If QBE meets the CIMB Securities target it will return approximately 7% (excluding dividends, fees and charges
Hope this helps
zess
QBE Price at posting:
$11.83 Sentiment: Buy Disclosure: Held
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