QBE delivered disappointing results in August although they did maintain positive rhetoric including reconfirming FY23 guidance. The trend through 2022/23 has been for stocks that disappoint to stay in the “naughty corner” longer than many expect, although QBE has bounced well after its initial 3-week pullback. Overall, we remain confident in the operational turnaround story playing out at QBE as they simplify their business and focus on areas where they ‘have an edge’, hence, we remain potential buyers into weakness.
- We will consider QBE if we see another leg lower, around 6% lower.
MM likes QBE around the $14 area
Add To Hit List
