While investors should be mindful of regulatory risks, Morgan Stanley believes both Suncorp Group and Insurance Australia Group are among the best stocks to own in early-2024.

For these companies, the broker highlights personal lines pricing power and a favourable industry backdrop with potential to over-earn in the short-term.

For Insurance Australia Group, the Equal-weight rating is maintained and the target rises to $5.50 from $5.45. Industry view: In-line.

Sector: Insurance.

Target price is $5.45.Current Price is $5.69. Difference: ($0.24) - (brackets indicate current price is over target). If IAG meets the Morgan Stanley target it will return approximately -4% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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