ANZ's Competitive Position in Institutional Banking Could Surprise on the Upside -- Market Talk

Dow Jones05-08

0529 GMT - ANZ retains its competitive position in institutional banking, which UBS thinks could surprise on the upside, analyst John Storey says in a research note. At the same time, the investment bank reckons that product and geographic diversification support the ANZ investment case, noting that the earnings streams coming from institutional via robust trading and markets performance tend to be less valued by the market, given uncertainty and lower visibility on earnings. "Notwithstanding, ANZ has a clear path to a 11%-11.5% return on equity over the forecast period," says UBS, which keeps its neutral call on the stock. (alice.uribe@wsj.com)

(END) Dow Jones Newswires

May 08, 2024 01:29 ET (05:29 GMT)

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