Yesterday saw CBA rally over 1% compared to the rest of the Banking Sector which slipped lower, a strong quarterly result proving the positive tonic. The markets now deliberating whether the board will deliver a buyback &/or a special dividend with both likely to be very supportive for the share price. Before capital management initiatives CBA is already yielding ~3% fully franked which is unquestionably attractive with term deposits largely sub 0.5% plus of course they’re unfranked.
MM remains bullish CBA looking for a test of $100 in 2021
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