As Tina Turner once sang at a ARL Grand Final, “It’s simply the best,” and CBA’s latest Half-Year result last week illustrated this perfectly. There were no hidden surprises, just solid numbers that drove the stock to new all-time highs. While we believe CBA is rich, close to $160, the markets have been caught out by its huge advance through 2024; hence, we can see buyers emerging into weakness.
- We will consider CBA back in the $150 region, or ~6% lower: MM holds CBA in our Active Income Portfolio.
MM is neutral CBA ~$159
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