How we rate the “Big Four Banks” post their results

Bell Potter


Our Head of Research and Banking Analyst TS Lim wraps up last week's results from Commonwealth Bank of Australia (CBA), ANZ (ANZ), NAB (NAB) and Westpac (WBC).

& NAB is our top pick based on capital and strong fundamentals. We have a price target of $38.50 and Buy rating. ANZ comes in second based on strong fundamentals, their offshore earnings and offshore earnings growth. We have a price target of $37.00 and Buy rating. We continue to rate CBA a Buy with a price target of $97.00 based on their strong underlying fundamentals (apart from legacy costs) and their IT leadership. We view WBC as less resilient to higher capital requirements and we recommend a Hold with a price target of $38.40

Bell Potter

Bell Potter Securities is a leading Australian stockbroking, investment and financial advisory firm that provides a comprehensive offering of financial services to a diversified client base that includes individuals, institutions and corporations.

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