Citi raises price target on Australia's QBE Insurance, citing lower stock volatility, strong first-half result

** Citi raises price target on Australia's QBE Insurance Group QBE to A$26.10, retains "buy" rating

** Brokerage is optimistic that the insurer will deliver a strong first-half result after the company confirmed in May that it was on track to meet the group's combined operating ratio expectation of about 92.5% for FY25

** If QBE achieves strong 1H result, it should lead to further share price advance as it continues to demonstrate lower volatility - Citi

** Citi also expects continued momentum in QBE's revenue, helped by foreign exchange tailwinds and strong investment returns

** Brokerage raises its estimate of earnings per share for QBE by 2% for fiscal years 2025-2027, incorporating mark-to-market, foreign exchange and other small changes

** Eight of 12 analysts rate the stock "buy" or higher, three "hold", and one "sell"; their median PT is A$25.00, according to data compiled by LSEG

** Stock is up 18.1%, YTD