BUZZ - After an upgrade by Citi, Australia's QBE Insurance may see its best week in four months
路透社2026/10/09 03:51On October 9, shares of Australian QBE Insurance Group (QBE.AX) continued their upward trend, rising 1.8% to AUD 24.805, reaching the highest level since August 5. The stock has gained approximately 4.2% this week and is on track for its best weekly performance since early June. Earlier this week, Citi noted in a report that the insurer stands out from its domestic peers due to its ability to achieve at least mid-single-digit, volume-driven gross written premium (GWP) growth while maintaining underwriting margins. The broker upgraded the stock's rating to "Buy" and raised its target price by 10.3% to AUD 26.70. The report also stated that QBE has currently reached a total premium income of USD 1.5 billions and is expected to increase to USD 2.5 billions in the medium term. Citi added that it remains optimistic about the stock thanks to enhanced earnings stability brought by prudent reserving. So far this year, QBE shares have risen about 25%.
October 9 - ** QBE Insurance Group QBE.AX shares extended their gains, rising 1.8% to AUD 24.805, marking the highest level since August 5.
** The stock is up about 4.2% so far this week and is on track for its best performance since early June.
** Earlier this week, Citigroup noted in a report that the insurer's ability to deliver at least mid-single-digit, volume-driven growth in gross written premium (GWP) while maintaining underwriting margins distinguishes it from domestic peers.
** The broker upgraded the stock to “Buy” and raised its price target by 10.3% to AUD 26.70.
** The report also stated QBE has already achieved total premium income of USD 1.5 billion, with expectations it could rise to USD 2.5 billion in the medium term.
** Citigroup added it remains optimistic on the stock, citing increased earnings stability thanks to prudent reserving.
** QBE shares have gained about 25% so far this year.
(To make its reporting easier to understand for non-native English speakers, Reuters has automated its reports into several other languages. Because automated translation may err or omit required context, Reuters does not guarantee the accuracy of these translations, which are provided solely for reader convenience. Reuters accepts no responsibility for any damage or losses arising from use of the automated translation function.)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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