Insurance Australia Group (IAG) Stock Recommendation

Insurance Australia Group (IAG) has had their share price target lifted from $5.50 to $5.65 and a Hold, Medium Risk Stock Recommendations retained after a revised guidance at their AGM. CIR's EPS changes are FY07E: +12%; FY08E: +3%; FY09E: +3%. "Most of the FY07E change is mark to market related with only around 3% sourced from increased insurance profit." " At this level CIR do not recommend chasing IAG on fundamentals alone as it may take until FY08E before They see significant growth in normalised profit." "The IAG share price appears to have received a boost from consolidation activity in the sector and some optimism about the impact of this on future premium growth." "If IAG makes further acquisitions, this growth may be exceeded. Its plans in this area appear ambitious as it looks to double its size again by 2012. Hastings may be only the first plank of its UK strategy with further Northern hemisphere acquisitions perhaps on the cards."
Insurance Australia Group Limited is listed on the Australian Stock Exchange (ASX) under stock code IAG. You can view their investor website here. James Strong os the Chairman of Insurance Australia Group (IAG), while Mr Michael Hawker is the CEO. IAG is a provider of general insurance, including full range of personal and commercial insurance products. Also provider of financial services products. Read previous news and stock recommendations for Insurance Australia Group (IAG). Find out the meaning of the recommendations in this primer. Browse for other stockbroker recommendations. Check your charts and good luck with your share trading!