AUB – Credit Suisse rates the stock as Upgrade to Outperform from Neutral

The company has reaffirmed its FY20 guidance. Credit Suisse was encouraged by the update and notes the share price has underperformed the market by around -30% over the last 12 months following a series of earnings downgrades.

Company specific issues have had an impact and offset a favourable operating environment. With this risk passing, the broker upgrades to Outperform from Neutral. Target is raised to $12.75 from $11.45.

Sector: Insurance.

Target price is $12.75.Current Price is $11.45. Difference: $1.30 – (brackets indicate current price is over target). If AUB meets the Credit Suisse target it will return approximately 10% (excluding dividends, fees and charges – negative figures indicate an expected loss).

About Broker News

FNArena's Australian Broker Call, is your daily news report on the latest recommendation, valuation, forecast and opinions recently published by Stockbrokers.

View more articles by Broker News →