Macquarie Group: Headline result beats again
About the author:
- Author name:
- By Richard Coles
- Job title:
- Senior Analyst
- Date posted:
- 08 May 2023, 7:30 AM
- Sectors Covered:
- Insurance, Diversified Financials
- ANZ Banking Group's 1H23 result was a mixed bag – pre-provision profit beat our forecast but was below consensus, while the interim dividend and capital was better than expected.
- Mgmt. focus was on the benefit of the Institutional division, portfolio de-risking, and improving risk-adjusted returns.
- HOLD retained, with M&A the key caution. Target price dropped to (login to view).
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