I’ve been criticised for only discussing CBA when it comes to the Australian banks but it has undoubtedly proven to be the benchmark for all others to follow. Hence I’ve started todays report with the sectors leading light which has already rallied over $24 / 29% while also paying out $3.50 in fully franked dividends, an excellent report card by any matrix – its currently forecast to yield 4% over the next year.
CBA is often referred to as the world’s most expensive bank but while it keeps delivering sellers are likely to be conspicuous by the absence especially given its planned well for the future on the technology front. We still see a trading range for CBA into 2022 with $96-$116 our best guess as extremes.
MM remains bullish CBA
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