Own QBE (ASX:QBE) shares? Macquarie just upgraded ‘outperform’. Here’s why

Key Points

• Macquarie have upgraded QBE to ‘outperform’ from ‘neutral’ in a recent note
• The broker likes QBE’s valuation and reckons it can see margin expansion in FY22
• Analysts estimate the insurer’s operating ratio to come in at 92%
• QBE…