ANZ Bull Seems Untroubled by 1H Revenue Miss -- Market Talk

Dow Jones05-01 08:25

0025 GMT - ANZ's first-half result looks largely in line with expectations at Citi despite the Australian bank's revenue miss. Analyst Thomas Strong tells clients in a note that there are a lot of moving parts to the result, with cash profit about 2.5% ahead of consensus forecast, thanks to lower-than-expected bad and doubtful debts. Costs are also better than expected, but he says this is offset by weaker net interest income. On the whole, Strong reckons the broader investment thesis is unchanged. He likes the lender's strong balance sheet and on-track strategy. Citi has a last-published buy rating and A$36.65 target price on the stock, which is down 0.3% at A$36.55. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

April 30, 2026 20:25 ET (00:25 GMT)

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He likes the lender's strong balance sheet and on-track strategy. Citi has a last-published buy rating and A$36.65 target price on the stock, which is down 0.3% at A$36.55. 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