Westpac Banking downgraded to Underweight from Equal Weight at Morgan Stanley

Morgan Stanley analyst Richard Wiles downgraded Westpac Banking (WEBNF) to Underweight from Equal Weight with a A$30 price target The company’s execution risk will likely be higher in 2025, its mortgage growth is likely to be below system, and there is potential for higher than expected expense growth, the analyst tells investors in a research note.