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SUN - Deutsche Bank rates the stock as Buy
BY BROKER NEWS - 04/08/2017 | VIEW MORE BROKER UPDATES

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SUN - SUNCORP GROUP LIMITED


The market clearly had high expectations, as the broker believes Suncorp's result was better than the sharp share price response might suggest. Both of the Insurance and Banking & Wealth divisions produced very solid results in the broker's view.

The drag was provided by NZ earthquake claims and a loss on the failed takeover of Tower in NZ. On balance the result thus "wasn't great", the broker acknowledges, but on the share price drop the broker is happy to retain Buy and a $14.60 target.

Sector: Insurance.

Target price is $14.60.Current Price is $13.57. Difference: $1.03 - (brackets indicate current price is over target). If SUN meets the Deutsche Bank target it will return approximately 7% (excluding dividends, fees and charges - negative figures indicate an expected loss).



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The content of this information does in no way reflect the opinions of FN Arena, or of its journalists. In fact we don't have any opinion about the stock market, its value, future direction or individual shares. FN Arena solely reports about what the main experts in the market note, believe and comment on. By doing so we believe we provide intelligent investors with a valuable tool that helps them in making up their own minds, reading market trends and getting a feel for what is happening beneath the surface. This document is provided for informational purposes only. It does not constitute an offer to sell or a solicitation to buy any security or other financial instrument. FN Arena employs very experienced journalists who base their work on information believed to be reliable and accurate, though no guarantee is given that the daily report is accurate or complete. Investors should contact their personal adviser before making any investment decision.

 

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