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CIMB upgrades Bendigo and Adelaide Bank (BEN) to neutral from underperform

Tom McKay

Livewire Markets

CIMB upgrades Bendigo and Adelaide Bank (BEN) to neutral from underperform. BEN has lagged its peers for most of the year and CIMB now rank it the cheapest in sector. They think a re-rating is probable as concerns about legal risks from the Great Southern Plantations dispute abate and the path to Advanced IRB status builds momentum. This follows a similar upgrade by JP Morgan back in early October and bodes well for the stock.


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Tom McKay
Managing Director and Co-Founder
Livewire Markets

Tom McKay is the Co-Founder and Managing Director of Livewire. Tom's passionate about democratising access to high quality investment ideas and insights, so all investors can make more informed and successful investment decisions.

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