Goldman Sachs initiated coverage of ANZ Group (ANZGF) with a Buy rating and A$37.54 price target Over the last two years, the Australian Major Banks’ share prices have exceeded expectations and the firm believes the banks’ more disciplined focus on pre-provision operating profit growth despite a weak sector earnings picture has helped the relative sector outperformance. However, it expects sector earnings growth to “remain very challenging,” the analyst tells investors.
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