0108 GMT - Westpac's first-half result lends more credence to the idea that the Australian banking sector's best days are in the past for now, Macquarie analysts say. Putting Westpac's result alongside those from rivals ANZ and NAB, the analysts see risks building as higher interest rates and a softer economy lead to slowing volumes. Intensifying competition in lending and deteriorating credit quality are concerns, they add. There were few surprises for the analysts in Westpac's result, although they call out weakening revenue trends and an underlying margin decline through the half. Macquarie cuts its target price 3.1% to A$31.00 and keeps an underperform rating on the stock, which is up 4.2% at A$39.19. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
May 05, 2026 21:08 ET (01:08 GMT)
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