CBA is often regarded as the go to bank when uncertainty grows and that’s been the case over the last month with the stock up +10%, outperforming its peers. The greater the concerns that we hear around impairment charges on property the better CBA is likely to hold up, despite them being the largest home lender! As we all know, it’s not cheap, but with high levels of uncertainty around, we can see recent outperformance continuing, making it a classic HOLD for MM.
- We can see CBA testing the $190 area over the coming months.
MM is cautiously bullish towards CBA
Add To Hit List
