It appears ANZ Bank’s FY18 report slightly missed Morgans’ expectations, but the broker is prepared to make the call this bank’s rough patch is nearing an end. The next couple of years should be “smoother“, if Morgans’ assessment can be relied upon.
The analysts concede the result itself was messy, but they don’t see anything underlying that bodes negatively for ANZ Bank’s future health or performance. Target price remains at $28.50. Add rating retained.
Target price is $28.50.Current Price is $25.92. Difference: $2.58 – (brackets indicate current price is over target). If ANZ meets the Morgans target it will return approximately 9% (excluding dividends, fees and charges – negative figures indicate an expected loss).