Morgan Stanley Adjusts Price Targets for ANZ and CBA, Maintains Ratings

Thu 20 Mar 25, 01:59 AM | Team Kalkine

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Highlights

ANZ Price Target Raised: Morgan Stanley lifts ANZ's price target to AU$29.30 from AU$27.20 but maintains an "Equal-Weight" rating.

CBA Price Target Adjusted: Commonwealth Bank of Australia’s price target increased slightly to AU$128 from AU$127, with an "Underweight" rating maintained.

Market Performance: ANZ shares are up 0.6% year-to-date (YTD), while CBA shares are down 6.8% YTD.

Analysts at Morgan Stanley have revised their price targets for two of Australia’s major banks, ANZ and Commonwealth Bank of Australia (CBA), citing their respective market strengths and challenges.

ANZ: Strong Institutional Performance but Risks Remain

Morgan Stanley raised its price target for ANZ from AU$27.20 to AU$29.30, highlighting the bank’s well-positioned institutional banking division, positive momentum in the local mortgage market, and strong cost discipline. Analysts also noted that ANZ has improved its risk profile and continues to trade at a significant discount to its banking peers following last year’s share price underperformance.

Despite these positives, the brokerage decided to maintain an "Equal-Weight" rating on ANZ due to concerns about customer mitigation risks in retail banking, lower-than-usual provisions coverage, and uncertainty surrounding a CEO transition expected later this year.

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