Morgan Stanley raises PT on Bank of Queensland; shares gain

Bank of Queensland

09/02/2024 01:47

** Analysts at Morgan Stanley raise PT on Australia's Bank
of Queensland  BOQ.AX  to A$5.70 from A$5.30
    ** Brokerage says the regional lender remains committed to
its digital transformation while re-shaping its growth and
business targets
    ** Sees BOQ investing more in business banking and growing
non-interest income while reducing reliance on mortgages
    ** Expects modest recovery in underlying margins in fiscal
2025
    ** Shares currently up 0.1% to A$6
    ** Stock has fallen 1.5% this year as of last close 

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