Citi eyes short-term earnings miss for Bank of Queensland; downs rating, PT

Bank of Queensland

08/10/2023 20:32

** Analysts at Citi lower price target on Bank of Queensland
 BOQ.AX  to A$5.00/share from A$5.75/share
    ** Brokerage further downgrades stock rating to "sell" from
"neutral"
    ** Says the gap between what the lender's management is
expecting and what consensus estimates are is very wide
    ** Citi sees a potential short-term earnings miss on the
Aussie mid-cap bank
    ** Forecasts company to miss core earnings by 7% and cash
earnings by 9% as compared to consensus estimates
    ** Downgrades earnings estimates for the bank by 4% and 9%
respectively for fiscal 2024 and fiscal 2025
    ** Stock has fallen 17.3% this year, as of last close

 (Reporting by Rishav Chatterjee in Bengaluru; Editing by Lisa
Shumaker)
 ((Rishav.Chatterjee@thomsonreuters.com;))