ANZ - Morgan Stanley rates as Equal-weight
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Morgan Stanley observes Australia's major banks face a deteriorating revenue growth outlook and increased scrutiny, with little room to deliver positive surprise on expenses, loan losses and capital management. The broker believes ANZ offers a good cost story and improving risk profile against this backdrop.
ANZ is the broker's preferred major bank. Rating is Equal-weight. Target is raised to $29.30 from $29.00. Sector view is In-Line.
Sector: Banks.Target price is $29.30.Current Price is $28.22. Difference: $1.08 - (brackets indicate current price is over target). If ANZ meets the Morgan Stanley target it will return approximately 4% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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