CBA

Here is an update on the Australian Wealth Management (AUW) provided by Australian market analyst UBS.

Australian Wealth Management (AUW) Markets impact Q108 FUM, Q2 looking flat

Retail FUM down 9% in the quarter:

The Australian Banks underperformed the market by 0.7%.The Macquarie Research Equities (MRE) highlights about the Australian Banking Sector Impacts.

Which Banks to Support?

The Australian Banks underperformed the market by 0.7% last week, yet still trade well below their November 2007 highs. Macquarie Research Equities (MRE) highlight their sector picks as WBC and CBA given stronger balance sheets, low risk loan portfolio’s and lower exposure to offshore earnings. MRE assess the week in passing and reaffirm their sector guidance…

Australian Banking Sector reporting season preview from Australian market analyst UBS.

Start scooping up banks. Mild overweight.

Recent price falls provide a buying opportunity:

The Aussie banks have seen a sharp pull back in recent weeks following their global peers. We believe that this has been driven by: (1) concerns for the health of the US investment banks into their reporting season; and (2) overhang from the current global bank rights issues. As a result the Australian banks have now underperformed the All Resources by 46% over the last year.

Commonwealth Bank (CBA) has a share price target of $50.00 from Australian stockmarket analyst Macquarie Research Equities.

Commonwealth Bank (CBA) Upgrade to Buy

Upgraded to Buy following significant underperformance YTD:

Year to date CBA has fallen 26%, underperforming the market by 15% and the banking sector by 6%. CBA is now trading at 11.2x FY09E PE, 1.3 standard deviations below its LT average of 13x. We see this as a good opportunity to begin accumulating CBA.

Risk from "bad boys" decreasing:

MRE aggressively downgraded Australian banking sector earnings in April this year following the March half-year reporting season.

Which Bank?

Here is an Australian banking sector update from Australian market analyst UBS.

Labor Govt keeps the Four Pillars Policy

Rudd Government is committed to the four pillars policy:

Here are the Macquarie Research Equities (MRE) highlights on some of the recent impacts experienced by the Australian Banking Sector.

Bank Opportunities

The Australian Banks outperformed the market by 3.3% last week, yet are still trading significantly below their November 2007 highs. Headlining recent developments in this area has been the proposed merger between WBC and SGB. Macquarie Research Equities (MRE) review the week in question and reaffirm their guidance for the sector. Click through to find out more…

Banking Sector Impacts

Commonwealth Bank (CBA) has a neutral stock recommendation and a share price target of $47.50 from Australian stockmarket analysts from Citi.

Commonwealth Bank (CBA) Wealth Management levers

Wealth Management update shows CBA relatively well placed:

Here is an update on the Australian banking sector provided by Australian market analyst UBS.

Results and M&A - an eventful month

Reporting season surprised on the upside: