CBA – Morgan Stanley rates the stock as Underweight

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First quarter cash profit was in line with Morgan Stanley’s estimates. The margin was lower than expected while housing loans were slightly ahead of forecasts. The broker notes credit quality remains sound.

Underweight. Target isĀ $64.50. Industry view: In-Line.

Sector: Banks.

Target price is $64.50.Current Price is $69.83. Difference: ($5.33) – (brackets indicate current price is over target). If CBA meets the Morgan Stanley target it will return approximately -8% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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