WBC price target $41, page-56

WBC is a dangerous buy to assume the bottom due to the negative sentiment and what seems a closet with endless amounts of skeletons . ANZ & NAB seem safer buys with less risk but the fact WBC has become the high Beta of the big 4 would suggest WBC will overshoot to the downside and ultimately become the best value buy . This type of stock i'm less likely to pre-empt the low without signs the low is in . A huge capitualtion of decade extreme might get me interested otherwise my metrics for value entry will be forward earnings spread multiple based . This value zone is a lot lower there where it currently trades , it will not be linear to this level if in fact it ever sees this level so no need to get too excited by small relief rallies along the way . WBC is a bit of a knife

Revisions in consensus forward earn become critical from here , let the dust settle