Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi James and Team How will you be playing CBA in the run up to reporting and their dividend payment ex in Aug? Broker consensus is sell with an avg P.T of $89.47. You hold in both the growth and Income portfolios. Currently $105.25 - Do you have a price target it could trade up to where you will sell leading up to reporting? regards Debbie
Hi Debbie,
We actually don’t hold CBA in our Flagship Growth Portfolio, simply because we see more growth potential in ANZ, NAB and Macquarie Group (MQG). We do hold CBA in the Active Income Portfolio (6% weighing) given we view it as lower risk than the others – and that portfolio has a lower risk profile.
This week, UBS did write up CBA as a stock that has a high chance of beating at their upcoming results on the 9th August, however they retained a hold call on it. Broker consensus is always negative on CBA due to relative valuation – we would not get too caught up on this, it’s such a high-quality bank, with many reasons underpinning their premium valuation.
We intend to wait for the result before making a decision on price levels.
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