WBC has been one of the local banks MM has been watching of late, ANZ got the nod with our funds from the CBA sale but we will still consider it into further weakness with its 5.6% fully franked yield appealing. The trading update from NAB today will offer some further clarity on the sector but at this stage, we aren’t in a hurry to increase our exposure.
- We will be considering WBC as an option to increase our banking exposure into further weakness.
MM likes WBC around $22, or 5% lower
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