Commonwealth Bank hits near 4-month high; Jefferies lifts PT on stronger outlook

Commonwealth Bank of Australia

04/08/2026 04:02

** Australian top lender Commonwealth Bank CBA.AX advances 1.9% to A$181.310 to hit its highest since April 16
** Jefferies raises its price target by 1% to A$145.20 while keeping CBA at "underperform" on softer growth and funding risks
** Brokerage says CBA is shifting from growth to sustainability as focus turns to costs, asset quality and capital deployment amid a housing slowdown
** Jefferies forecasts FY 2026 cash earnings of A$10.86 billion ($7.62 billion), up 6% YoY, on stronger lending volumes despite margin, cost and bad debt headwinds
** Expects Australian housing system growth to slow below 4% in FY 2027 after citing a sharp drop in housing loan applications
** YTD, CBA is surged 12.9%, outpacing financials subindex .AXFJ, which has advanced 8.8%

($1 = 1.4253 Australian dollars)

 (Reporting by Kumar Tanishk in Bengaluru)
 ((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))