ANZ Likely Has Little Scope for Earnings Per Share Upgrades -- Market Talk

Dow Jones05-08

0332 GMT - ANZ's institutional bank is performing well, and its Australian retail unit has seen better momentum, but it also has several strategic priorities to juggle, say Morgan Stanley analysts in a note looking at the Australian major lender's 1H FY 2024 results. MS reckons there is "little scope" for earnings per share upgrades in FY 2025, and with the stock evenly valued, the investment bank downgrades ANZ to equal-weight from overweight. Still, MS sees that ANZ has a good track record of cost discipline, and forecasts expense growth ex-notable items to moderate from 4.5% in FY 2024 to 3% in FY 2025. (alice.uribe@wsj.com)

(END) Dow Jones Newswires

May 07, 2024 23:32 ET (03:32 GMT)

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Still, MS sees that ANZ has a good track record of cost discipline, and forecasts expense growth ex-notable items to moderate from 4.5% in FY 2024 to 3% in FY 2025. 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