** QBE Insurance QBE.AX falls 0.2% to A$19.595, in line with banking sub-index .AXFJ, which is down 0.8%
** Macquarie raises PT to A$21.5 from A$21.3
** Upgrades 2024 earnings estimate by 8.3% on expectations of ~A$90 mln ($55.7 mln) catastrophe beat
** Sees FY24 gross written premium (GWP) growth of 2.8% $(CC)$ compared with co's forecast of ~3%
** Expects FY25 GWP growth forecast to be set at "low single-digit"
** Stock rated "buy" on avg; median PT is A$21.25 – LSEG
($1 = A$1.6152)
(Reporting by Sneha Kumar in Bengaluru)
((Sneha.Kumar@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.