QBE upgraded to Buy

QBE’s share price has fallen over 20% after announcing another profit downgrade replete with large write-offs. We’re upgrading to Buy.

This analyst doesn’t know whether to laugh or cry. Since August, after coming within 47 cents of downgrading QBE Insurance to Sell and moving on after such a tumultuous period in its history, QBE’s share price has fallen 32%, including today’s 23% drop after announcing it was clearing the decks within its problematic US division.


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