QBE Still Looks Cheap, CIMB Says -- Market Talk
Posted on 4 February 2015 13:58 | Dow Jones Institutional News
0258 GMT [Dow Jones] QBE Insurance (QBE.AU) remains cheap, CIMB argues. It points to a stock trading about 10.5 times forecast FY15 earnings and its forecasts for strong double-digit earnings growth over the next two years. "Recent work to repair its balance sheet and a likely future earnings recovery from business transformation are not accurately reflected in the current share price." It reaffirms an add recommendation and A$12.51/share target. QBE is trading up 3.1% at A$11.01. ([email protected]; Twitter: @RobbMStewart)
QBE Still Looks Cheap, CIMB Says -- Market Talk Posted on 4...
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