Earnings forecasts are up with the analysts playing catch up with the latest deals and market developments. As a result the target moves up by $4 to $34.
Risks haved increased but the broker still regards QBE as a good relative play with most financial stocks simply expensively priced.
Target price is $34.00. Current Price is $30.28. Difference: $3.72 – (brackets indicate current price is over target). If QBE meets the SB Citigroup target it will return approximately 11% (excluding dividends, fees and charges – negative figures indicate an expected loss).