** Shares of ANZ Group ANZ.AX fall 0.9% to A$32.925, tracking a broader 0.7% decline in Australia's financials sub-index .AXFJ
** Analysts at Morgan Stanley expect ANZ to announce a significant transformation agenda at the CEO Strategy Update on October 13
** Brokerage says ANZ's update could include details on a revised strategy for ANZ's retail bank, including unit ANZ Plus, and new medium-term financial targets
** We think investors would welcome confirmation of ROE and CTI targets, more clarity on cost savings would support current multiples - Morgan Stanley
** Morgan Stanley rates the stock "equal-weight" with a price target of A$30.50
** ANZ up 15.6% this year, including the day's move
(Reporting by Roushni Nair in Bengaluru)
((Roushni.nair@thomsonreuters.com;))