0043 GMT - There is no obvious reason to expect Insurance Australia Group's good share-price run to stop now, Citi analyst Nigel Pittaway writes in a note. He keeps a buy rating on the stock, telling clients that benign weather is likely to help the ASX-listed insurer's first-half performance. He sees IAG's profitability outlook remaining strong and is positive on investment returns. Although IAGs full-year allowance is higher than its modeled natural perils, Pittaway doesn't currently expect it to alter its annual guidance. Citi raises its target price 1.0% to A$9.55. Shares are up 0.6% at A$8.71. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
January 19, 2025 19:43 ET (00:43 GMT)
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