ANZ - Morgan Stanley rates the stock as Equal-weight
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ANZ's first quarter update revealed a lower loan loss charge and a slightly better than expected CET1 ratio. No specific details were given, but the update suggests to Morgan Stanley that first half profit is tracking ahead of the broker's forecast of $3,550m.
ANZ is the broker's preferred major bank. Rating is Equal-weight. Target is $29.00. Sector view is In-Line.
Target price is $29.00.Current Price is $27.98. Difference: $1.02 - (brackets indicate current price is over target). If ANZ 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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