not sure about Goldman but I noticed this price target issued...

not sure about Goldman but I noticed this price target issued yesterday from Morgan Stanley:

30 Aug: PT $5.60 : "Morgan Stanley cuts Bank of Queensland's target price to $5.60 from $6, expecting weak mortgage growth, margin erosion and transformation costs, and intensifying competition"

Seems a little too low imo, possibly priced in but if next results are not so great, they might be right.
I wish I had the optimism of some others on this board with BOQ - the letter from BOQ chairman Warwick Negus (dated 1 June 2023) forecasting NIM pressure/competition doesn't bode well for the next set of results and its in line with some of the commentary from MS above. Mr Negus did say: "There is pressure ... on net interest margins as wholesale funding markets have faced periods of uncertainty and increased competition with the sector’s replacement of Term Funding Facilities."

On a different note, I personally would love the bank to explain exactly how the digitization process is reducing costs, Mr Negus did say they "are well progressed in building a low-cost, scalable national brand... Our digitisation will allow us to decommission legacy systems and achieve a material reduction in operating costs, but we recognise that we can’t wait for this to occur, we have seen increasing costs due to our complex structure and duplication in processes..We look forward to providing you with further detail on this in the second half of financial year 2023." ..I've seen this fluff a few times from BOQ on their digitization strategy and given how much they've spent/how much time its taken, I hope they go into detail in the 2nd half into EXACTLY what impact they expect on costs.