QBE Insurance Group Shares Recommendation

Citigroup Investment Research (CIR) have retained their Buy, Medium Risk rating for the QBE Insurance (QBE) stock with a share price target of $26. Citigroup continues to expect QBE to deliver "superior near-term growth profile to its domestic listed counterparts". The broker also notes that " With a solvency ratio likely to exceed 65% by 31 December 2006, QBE already has significant surplus capital. However, this raising further builds the acquisition war chest."

QBE Insurance Group Limited is listed on the Australian Stock Exchange (ASX) under stock code QBE. The company is involved in underwriting general and reinsurance risks, investment management and management of the economic entity's share of the NSW and Victorian workers' compensation scheme. You can view their investor website here. A recent recommendation from JP Morgan. Check your charts!