Austbrokers upgraded to Buy

After reaching $11.20 six weeks ago Austbrokers’ share price has fallen 10% and marginally into upgrade territory. As we’ve discussed in previous reviews Hail the insurance middleman and Austbrokers and Steadfast: Results 2014, Austbrokers wouldn’t be immune to a recession but its profits should hold up far better than most as businesses are unlikely to operate without insurance that protects them and their customers. The company has had a tremendous run over the past decade as it’s made tuck in acquisitions to expand its network. We don’t expect any change in strategy but note that with rival Steadfast competing for...

After reaching $11.20 six weeks ago Austbrokers’ share price has fallen 10% and marginally into upgrade territory. As we’ve discussed in previous reviews Hail the insurance middleman and Austbrokers and Steadfast: Results 2014, Austbrokers wouldn’t be immune to a recession but its profits should hold up far better than most as businesses are unlikely to operate without insurance that protects them and their customers.

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