BUZZ-ANZ shares fall as major strategy shift expected by Morgan Stanley
Reuters
Oct 01
BUZZ-ANZ shares fall as major strategy shift expected by <a href="https://laohu8.com/S/MTK">Morgan Stanley</a>
** 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;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.