IAG Bulls Welcome Resolution of Long-Running Overhang
Dow Jones
Sep 25
2356 GMT - IAG's bulls at Citi say the Australian insurer's settlement with Credit Suisse represents a welcomed end to a long-running stock overhang. With IAG saying the settlement won't have a material impact on its financial position of fiscal 2027 results, analysts at the investment bank tell clients in a note that the insurer appears to have resolved the issue for a relatively minimal amount. They welcome the announcement since the continuing legal case may have prevented some investors taking a position. Citi has a last-published buy rating on the stock and a target price of 8.80 Australian dollars. Shares are at A$7.80 ahead of the open.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.