Morgans views the capital management potential for Westpac Bank to be more exciting than the other major banks, after the annnounced sale of the Australian life insurance business. This adds to the bank’s surplus CET1 capital position.
The broker makes no changes to forecasts and retains its Add rating and $29.50 target price.
Sector: Banks.
Target price is $29.50.Current Price is $25.55. Difference: $3.95 – (brackets indicate current price is over target). If WBC meets the Morgans target it will return approximately 13% (excluding dividends, fees and charges – negative figures indicate an expected loss).
