0329 GMT - Suncorp's first-half results should be strong enough to support the stock's recent strong momentum, Citi analyst Nigel Pittaway says. Citing the positive impact of benign weather on Suncorp's insurance margin, Pittaway projects Suncorp to report an estimated A$165 million of favorable variance. This is unlikely to affects its full-year underlying margin guidance, he says in a client note. He lifts his annual EPS forecast by 5% but maintains his preference for IAG and QBE over Suncorp. Citi stays neutral on Suncorp and lifts its target price on the stock by 7.3% to A$19.90. Shares are up 0.6% at A$19.70. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
January 19, 2025 22:29 ET (03:29 GMT)
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