What is your opinion on Suncorp?

What do you think of Suncorp? I bought it around its highs of $20, do you think it will ever return to those highs?

A: My bottom line on Suncorp is “prefer others”.

 

I might be a little biased, but my lack of enthusiasm is based on:

  • I am not a huge fan of “bancassurance”model;
  • I don’t sense that they have great technology;
  • The regional aspect to their banking business doesn’t appeal.

 

Stick to the leaders.

 

As for the brokers, according to FN Arena, a consensus target price of $10.08, about 8% higher than last night’s close of $9.35. Of the recommendations, 3 buy, 3 neutral and 1 sell.


Read Answer