CBA – Credit Suisse rates the stock as Neutral

In the past week, the bank index is down around -8% versus the broader market fall of -7%.

For the majors, the retail banks have fared worse with Westpac Bank down -15% and CommBank -13%, and National Australia Bank and ANZ Bank down -11% and -10% respectively by Monday.

Going forward, Credit Suisse prefers business banks over retail banks from a relative asset growth perspective (business being robust and housing slowing).

ANZ Bank is the broker’s most preferred of the four majors, while CommBank is least preferred. For the latter, the Neutral rating and $102.80 target price are retained.

Sector: Banks.


Target price is $102.80.Current Price is $90.46. Difference: $12.34 – (brackets indicate current price is over target). If CBA meets the Credit Suisse target it will return approximately 12% (excluding dividends, fees and charges – negative figures indicate an expected loss).



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