Australia's ANZ rises as UBS upgrades rating, hikes EPS forecast

ANZ group

04/05/2026 04:31

Updates

** Shares of Australia's ANZ Group ANZ.AX rise as much as 1.6% to A$36.180

** UBS says ANZ's HY results exceeded consensus expectations for cash net profit by 2.7%

** UBS hikes earnings per share estimates for ANZ, upgrades rating to "neutral" from "sell"

** "Earnings changes reflect a focus on higher non-interest income moving forward," says brokerage

** "On a 12-month view, ANZ has been a notable outperformer relative to peers as the market bought into ANZ's turnaround," says UBS

** Analysts at Jefferies say core issue of weak revenue growth remains unsolved for ANZ even though CEO Nuno Matos has made operational progress

** While cost execution is strong, 2H26 must prove ANZ can restore mortgage-led revenue growth without hurting margins or processing performance - Jefferies

** Citi trims TP to A$40/shr from A$40.3/shr; maintains "buy" rating

** YTD, stock down 2%, as of last close

(Reporting by Shivangi Lahiri & Rajasik Mukherjee in Bengaluru; Editing by Cynthia Osterman)

((shivangi.lahiri@thomsonreuters.com))