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

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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).

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