SUN – Morgan Stanley rates the stock as Equal-weight

QBE Insurance Group ((QBE)) stands to benefit the most of insurance stocks under Morgan Stanley’s coverage from record commercial line growth in the September quarter Australian industry data.

While personal lines growth slowed to around to around 5.5%, with Suncorp Group below 5%, the broker sees modest upside risk for gross written premium (GWP) growth. The Equal-weight rating and $11.90 target price are retained. Industry view: In-Line.

Sector: Insurance.


Target price is $11.90.Current Price is $10.67. Difference: $1.23 – (brackets indicate current price is over target). If SUN meets the Morgan Stanley target it will return approximately 10% (excluding dividends, fees and charges – negative figures indicate an expected loss).



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