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QBE

Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.

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QBE

Hi James Thanks as always for your great coverage ..I am wondering what your current thoughts are on QBE ...I know that you felt that it was a good opportunity to sell a few weeks ago but the current price movement looks quite strong..is it still a sell for those that have been hanging on to QBE or do you have a new price target for this stock ?

Answer

Hi Don,

QBE has rallied since we sold it to free up funds to buy Macquarie (MQG) which we view as a higher quality business – everything is a relative call in the market. Given our macro view around bond yields having peaked for the next few quarters at least, we still believe QBE is a sell given they benefit from higher rates, however timing is now the key question with the market expecting a solid result when they report earnings on the 18th of this month.

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QBE Insurance (QBE)
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