2325 GMT - Insurance Australia Group's bull at Citi says the company's guidance upgrade was already factored into his forecasts and those of his peers. Analyst Nigel Pittaway points out in a note to clients that IAG's upgrade on the acquisition of RACQ Insurance doesn't change its outlook. His forecasts also reflect the acquisition of RAC in Western Australia state, despite skepticism among some analysts that competition regulators will allow the deal to pass. On that basis, he says IAG is trading at a discount to rival Suncorp, which he reckons is hard to justify. Citi keeps a "buy" rating and A$10.00 target price on the stock, which is up 0.75%, at A$8.04. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
October 23, 2025 19:25 ET (23:25 GMT)
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