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MM views on top banks

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MM views on top banks

“Hi James, I am a new member and I’m not sure if you take questions in this forum. Apologies if not.  My question is--- What are your thoughts on CBA; ANZ and NAB for the near future—say 3 months or so? I have done very well out of them, having got in at near the bottom. I have taken some profits on all 3, but I am wondering now if I might be better selling out and looking at some of the other stocks you are looking at? Thank you to you and your team.” - Mick O.

Answer

Morning Mick,

Welcome aboard – at MM we still like the banks which is illustrated through our holdings in both our MM Growth Portfolio & MM Income Portfolio while we continue to believe in reflation / higher bond yields through 2021 the sector is likely to remain on our menu assuming it doesn’t get too hot. We do expect some volatile price action over the coming months with our “best guess” at CBA’s trading range $80-$90 remembering of course it’s attractive forecasted $1.35 ff dividend later this month.

MM remains bullish the Australian Banking Sector
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Commonwealth Bank (CBA)
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