Per AFR
QBE: Goldman Sachs upgrades to 'buy'Robert GuyGoldman Sachs has upgraded QBE Insurance to 'buy' from 'neutral', arguing this week's $1.3 billion capital raising offers an opportunity to close its valuation discount to the S&P/ASX 200.The broker says both QBE and Suncorp have been oversold but "the opportunity looks most compelling" for QBE.The stock is trading on a prospective 2021 price-earnings multiple of 11 times, which is only "mildly" above its 15-year and global financial crisis trough of 9 times.QBE is trading at a 35 per cent discount to the S&P/ASX 200 Index compared to a discount of 20 per cent seen over a five year basis."We think the discount looks particularly pronounced following balance sheet initiatives taken this week, and broader efforts to simplify / de-risk the business in recent years, leaving it much better placed leading into this downturn than has been the case previously."Goldman Sachs' price target is $11.27 a share.
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QBE: Goldman Sachs upgrades to 'buy
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Last
$16.88 |
Change
0.090(0.54%) |
Mkt cap ! $25.36B |
Open | High | Low | Value | Volume |
$16.86 | $17.05 | $16.83 | $56.90M | 3.361M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 12190 | $16.86 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$16.88 | 4009 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 12190 | 16.860 |
1 | 255 | 16.850 |
3 | 8688 | 16.820 |
2 | 1326 | 16.810 |
2 | 7715 | 16.800 |
Price($) | Vol. | No. |
---|---|---|
16.880 | 4009 | 1 |
16.900 | 12205 | 4 |
16.920 | 7659 | 1 |
16.930 | 29304 | 4 |
16.940 | 11728 | 2 |
Last trade - 16.10pm 23/07/2024 (20 minute delay) ? |
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