The banks are awash with both cash and economic tailwinds and as we witnessed with National Australia Bank (NAB) last month they’re happy to start buying back their own stock – $2.5bn in the case of NAB. Regional bank of Queensland (BOQ) has like CSR been on our radar for a while and it brings with it both the attraction of a potential takeover target and a 3.2% fully franked yield, not a bad combination.
MM is bullish BOQ initially targeting the $10 area
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