The broker's longer-term rating is unchanged but it has assessed the stock as a short-term Buy, reflecting changes to its assumptions for the sector of a slower than previously expected rate of margin decline.
It expects the first signs of this boosting earnings are likely to become apparent when the bank reports this month.
Target price is $44.67. Current Price is $50.34. Difference: ($5.67) – (brackets indicate current price is over target). If CBA meets the ABN Amro target it will return approximately -13% (excluding dividends, fees and charges – negative figures indicate an expected loss).