BOQ – UBS rates the stock as Neutral

By Broker News | More Articles by Broker News

FY15 results were ahead of UBS expectations. The broker is pleased the hard yards have delivered since the business was recapitalised three years ago.

Loans were up 6.0%, boosted by a good mortgage performance, while other income grew 14% from stronger trading income and lending fees. Impairments also continued to improve.

The bank is also more optimistic about the outlook than it has been for some time, the broker observes. UBS retains a Neutral rating and $13.00 target.

Sector: Banks.

Target price is $13.00.Current Price is $12.46. Difference: $0.54 – (brackets indicate current price is over target). If BOQ meets the UBS target it will return approximately 4% (excluding dividends, fees and charges – negative figures indicate an expected loss). This excerpt is taken from The Australian Broker Call. Copyright FN Arena, visit for a free trial.

Broker News

About Broker News

FNArena's Australian Broker Call, is your daily news report on the latest recommendation, valuation, forecast and opinions recently published by Stockbrokers.

View more articles by Broker News →