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

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

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.

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.

ANZ shares have gained 0.6% so far in 2025, reflecting modest investor confidence.

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