Morgans reviews its earnings assumptions and marks-to-market earnings for stocks under its coverage in the General Insurers category.
For QBE Insurance, the broker downgrades its FY22 EPS estimate by -11% on negative mark-to-market investment impacts. The FY23 EPS forecast rises by 2-4% on the benefits of higher interest rates.
The price target is increased to $14.76 from $14.45. The Add rating is unchanged.
Sector: Insurance.
Target price is $14.76.Current Price is $11.79. Difference: $2.97 – (brackets indicate current price is over target). If QBE meets the Morgans target it will return approximately 20% (excluding dividends, fees and charges – negative figures indicate an expected loss).
