rates her a hold but target of $25.82 on the back of their asian plans
Unsure if I can paste the whole document here due to copyright etc but here is the headline
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Feature Article
ANZ Banking Group Limited
Last traded: $23.29 Sector: Financials Market cap: $60,469m
Hold Price target: $25.82
Summary of previous report dated 21/03/2011
Driving further regional connectivity ANZ provided a strategy update for the group, focusing on the next stage of its super-regional strategy as well as its plans for growth in Australia.
Unique positioning, yet improvements in profitability progressive.
ANZ reiterated its unique exposure to Asia?s strong economic growth relative to peers, particularly seeking to capitalise on increasing trade flows within the region. Despite increasing exposure to this high growth region, ANZ acknowledges profitability improvement towards a 20% ROE will take time.
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there is still a page and a half of info but commsec subscribers should have the note
commsec research note - hold - 25.82 target
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