Does MM have a target for CBA?

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Question asked 16/12/2023

Does MM have a target for CBA?

Hi James and M&M, do you see CBA stock price going higher or lower in 2024, and is there a target price you intend on selling CBA in the Active income portfolio? Thank you Kind Regards Tony Hi Market Matters Team CBA is the only Bank paying a dividend in Feb. Is your view to hold for the dividend or is there a price on CBA you would sell at prior to the dividend? Also for ANZ, NAB and WBC - if they rally into Christmas and January at what prices would you lighten or sell them? Thanks

Answer

Hi Guys,

We are bullish the ASX200 into 2024 which by default means CBA is likely to trade higher, i.e. its already up almost $7 in December after surging over $8 in November. Our best guess is CBA can make new an all-time highs into 2024, especially with its Est. $2.60 fully franked dividend looming in February.

We have no plans to take profit on our 6% position in our Active Income Portfolio with the healthy dividend due in around 2-months.

In terms of the other banks we are comfortable with our mildly underweight exposure but when we do decide to re-risk Macquarie Group (MQG) is the most likely candidate to be sold, i.e. we hold ANZ, NAB and MQG in our Active Growth Portfolio.

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Commonwealth Bank of Australia (CBA)

LAST UPDATED 15/12/2023 22:07

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