Suncorp Metway (SUN) Shares Tip

Suncorp Metway (SUN) has a Neutral 2 Shares recommendation and a share price target of $22 from stock analyst UBS. The analyst have noted that the ACCC today released a Statement of Issues in relation to the proposed SUN/PMN merger. They view the release as a modest statement with no issues falling into the highest category of concern. The key concerns identified were 1) removal of a vigorous competitor 2) entry barriers in QLD CTP and 3) barriers to expansion in motor. UBS estimates that SUN is trading on a 12.8x FY08E PE. Meanwhile, another stock analyst, Citigroup Investment Research (CIR) have a Hold/Medium Risk shares recommendation with a share price target of $21 for SUN (and $7.40 for PMN). CIR sees nothing in this to change their view that there is a low probability that the ACCC will block the deal outright, but they still expect some modest divestments may be required. A previous shares recommendation for SUN.

Suncorp Metway Limited is listed on the Australian Stock Exchange (ASX) under stock code SUN. You can view their investor website here. SUN was listed on the ASX on 7 July, 1988. Suncorp-Metway is primarily involved in the provision of banking, insurance, superannuation and funds management products and services to the retail, corporate and commercial sectors. Find out the meaning of the recommendations in this primer. Browse for other stockbroker recommendations. You can use Instalment Warrants to trade SUN. Check your charts and good luck with your share trading!