In a report released yesterday, Brendan Sproules from Goldman Sachs downgraded ANZ Group Holdings to a Hold, with a price target of A$38.14.
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Brendan Sproules has given his Hold rating due to a combination of factors related to ANZ Group Holdings’ recent performance and its outlook. He recognizes the bank’s successful turnaround over the past year, including leadership changes, a new five-year strategy, and strong early delivery on cost reductions that have helped drive a substantial share price rally.
At the same time, he believes the current market expectations for continued flat costs are too optimistic, as further investment will likely be needed and most easy savings have already been captured. With revenue growth still challenged, competitive pricing required to defend market share, and additional integration pressures from the SUN acquisition, he judges that these execution risks, when set against the current valuation, justify a Neutral, or Hold, recommendation rather than a more positive stance.
In another report released on March 3, TipRanks – DeepSeek also reiterated a Hold rating on the stock with a A$40.00 price target.
Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ANZGF in relation to earlier this year.