IAG slipped 1.4% on a mixed day for insurance stocks, in similar fashion to MQG, this major insurer has encountered selling after hitting new highs last week but we must remember one bad week doesn’t wreck a trend. IAG enjoyed several decent upgrades last month but it’s a brave call to turn bearish ahead of next Thursdays result, although the market is going into the result wearing a bullish hat and rich valuation:
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IAG’s Valuation (P/E) over the last 5-years
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IAG’s Valuation (P/E) over the last 5-years
- We can see IAG retracing another 65-70c, as it has done each of the last three years.
MM is neutral IAG short term
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