Australian Banking Sector Stock Tips

Macquarie Research Equities (MRE) have reviewed the recent bank sector performance after the end of the recent banking reporting season. Within the banking sector, MRE continues to prefer ANZ (12 month share price target of $28.75) and CBA (12 month share price target of $47.60) given solid revenue growth and the capacity to look to cost opportunities should conditions slow (rather than reverting to cost management just to deliver competitive growth in the current strong environment). Other bank share price targets that MRE has noted on are: National Australia Bank (NAB) with a 12 month share price target of $37.40, Westpac Banking Corporation (WBC) with a 12 month share price target of $24.50 and St. George Bank (SGB) with a 12 month share price target of $30.75