Westpac Bear Likes Clarity on Tech Overhaul Targets -- Market Talk

Dow Jones

Mar 31, 2025

0001 GMT - Westpac's bear at Macquarie is pleased to see the Australian bank laying out targets for its comprehensive tech overhaul, but still thinks the stock is too expensive given the risks involved. The lender is unlikely to hit all of its medium-term targets but achieving 50%-75% of them would be significant, according to an analyst note from the investment bank. The note says that Westpac has made a good start to an ambitious journey, but warns that the share price implies only a limited discount for execution risk. Macquarie is 12-24 months away from de-risking the overhaul. Macquarie keeps an underperform rating and A$28.00 target price on the stock, which is down 1.4% at A$31.45. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

March 30, 2025 20:01 ET (00:01 GMT)

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The lender is unlikely to hit all of its medium-term targets but achieving 50%-75% of them would be significant, according to an analyst note from the investment bank. The note says that Westpac has made a good start to an ambitious journey, but warns that the share price implies only a limited discount for execution risk. Macquarie is 12-24 months away from de-risking the overhaul. Macquarie keeps an underperform rating and A$28.00 target price on the stock, which is down 1.4% at A$31.45. (stuart.condie@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 30, 2025 20:01 ET (00:01 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Westpac Bear Likes Clarity on Tech Overhaul Targets -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWestpac Bear Likes Clarity on Tech Overhaul Targets -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-03-31 08:01</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0001 GMT - Westpac's bear at <a href=\"https://laohu8.com/S/MQG.AU\">Macquarie</a> is pleased to see the Australian bank laying out targets for its comprehensive tech overhaul, but still thinks the stock is too expensive given the risks involved. The lender is unlikely to hit all of its medium-term targets but achieving 50%-75% of them would be significant, according to an analyst note from the investment bank. The note says that Westpac has made a good start to an ambitious journey, but warns that the share price implies only a limited discount for execution risk. Macquarie is 12-24 months away from de-risking the overhaul. Macquarie keeps an underperform rating and A$28.00 target price on the stock, which is down 1.4% at A$31.45. (stuart.condie@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 30, 2025 20:01 ET (00:01 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"WBC.NZ","symbol_name":"Westpac Banking Corporation Ordinary Shares","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2523938264","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2523938264","pubTimestamp":1743379260,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0001 GMT - Westpac's bear at Macquarie is pleased to see the Australian bank laying out targets for its comprehensive tech overhaul, but still thinks the stock is too expensive given the risks involved. The lender is unlikely to hit all of its medium-term targets but achieving 50%-75% of them would be significant, according to an analyst note from the investment bank. The note says that Westpac has made a good start to an ambitious journey, but warns that the share price implies only a limited discount for execution risk. Macquarie is 12-24 months away from de-risking the overhaul. Macquarie keeps an underperform rating and A$28.00 target price on the stock, which is down 1.4% at A$31.45. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"WBC.NZ":"Westpac Banking Corporation Ordinary Shares","BK8062":"综合性银行","BK7511":"ESG概念","BK7135":"综合性银行","WBC.AU":"WESTPAC BANKING CORPORATION"},"translate_title":"西太平洋银行熊市喜欢明确技术改革目标——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"WBC.NZ":1,"WBC.AU":0.9},"content_text":"0001 GMT - Westpac's bear at Macquarie is pleased to see the Australian bank laying out targets for its comprehensive tech overhaul, but still thinks the stock is too expensive given the risks involved. The lender is unlikely to hit all of its medium-term targets but achieving 50%-75% of them would be significant, according to an analyst note from the investment bank. The note says that Westpac has made a good start to an ambitious journey, but warns that the share price implies only a limited discount for execution risk. Macquarie is 12-24 months away from de-risking the overhaul. Macquarie keeps an underperform rating and A$28.00 target price on the stock, which is down 1.4% at A$31.45. (stuart.condie@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  March 30, 2025 20:01 ET (00:01 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}