** Analysts at Citi downgrade Australia's four major financial lenders to "sell," adding that investors remain confused on how they should be positioned within the sector
** Brokerage says with sticky inflation and resilient credit environment, it is possible for the market to enter an environment where rate cut expectations continue to get revised out or abandoned altogether
** Brokerage chooses Westpac Banking Corp as its preferred pick in the sector on the back of buyback support, operative momentum and better yield
** Says Commonwealth Bank of Australia , the country's largest financial lender, has a stretched valuation but is disciplined in approach towards volumes
** Brokerage's least preferred is National Australia Bank
where it sees headwinds in the business banking operation
Bank Name RIC Price Target Rating
ANZ Group ANZ.AX A$26 Sell
National Australia Bank NAB.AX A$25.75 Sell
Westpac WBC.AX A$22.25 Sell
Commonwealth Bank of Australia CBA.AX A$82 Sell
(Reporting by Rishav Chatterjee in Bengaluru)
((Rishav.Chatterjee@thomsonreuters.com;))
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