BUZZ-Brokerage Jefferies upbeat on Insurance Australia Group's AI push, raises PT

Reuters

2024/12/04

** Brokerage firm Jefferies is upbeat on Insurance Australia Group IAG.AX after the firm highlighted focus on artificial intelligence in its annual investor briefing

** Jefferies says company's investment in GenAI tech will rapidly improve claims processing times

** Increases price target for IAG to A$8.35 from A$7.85; maintains "hold" rating

** Six of 12 analysts rate the stock "buy" or higher and six "hold"; their median PT is A$8.13 — LSEG

** IAG up 50.7% YTD, as of last close

(Reporting by Adwitiya Srivastava in Bengaluru)

((Adwitiya.Srivastava@thomsonreuters.com))

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