2311 GMT - ANZ's bear at UBS warns that the bank still needs to grow revenues if it is to meet its CEO's return targets. While ANZ's 1Q profit and costs were better than analysts had anticipated, UBS analyst John Storey says not everything in the result was positive. He highlights low net interest income growth and 1% on-quarter lending growth as negatives. Storey tells clients in a note that key to ANZ hitting its return-on-tangible-equity targets will be to hold onto revenue while progressing through its CEO's cost-cutting restructure. UBS lifts its target price 4.3%, to A$36.50, but keeps a "sell" rating on the stock, which is up 1.3%, at A$40.87. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
February 12, 2026 18:11 ET (23:11 GMT)
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