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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Per AFRQBE: Goldman Sachs upgrades to 'buy'Robert GuyGoldman...
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Last
$16.86 |
Change
0.070(0.42%) |
Mkt cap ! $25.42B |
Open | High | Low | Value | Volume |
$16.86 | $17.05 | $16.85 | $39.77M | 2.346M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
11 | 1386 | $16.86 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$16.87 | 3414 | 11 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
20 | 2095 | 16.860 |
13 | 4822 | 16.850 |
7 | 7339 | 16.840 |
8 | 4912 | 16.830 |
8 | 9083 | 16.820 |
Price($) | Vol. | No. |
---|---|---|
16.870 | 3471 | 11 |
16.880 | 7669 | 15 |
16.890 | 13856 | 13 |
16.900 | 4530 | 11 |
16.910 | 12748 | 9 |
Last trade - 15.51pm 23/07/2024 (20 minute delay) ? |
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QBE (ASX) Chart |
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