Commonwealth Bank: Q1 report card

About the author:

Author name:

By Nathan Lead

Job title:

Senior Analyst

Date posted:

15 November 2023, 7:30 AM

Sectors Covered:

Infrastructure, Utilities, Banks

• Commonwealth Bank (ASX:CBA) released its 1Q24 trading update, with revenue, pre-provision operating profit and cash NPAT flat on the 2H23 quarterly average.
• 3-4% cash EPS downgrades for FY25-26F, due to a mix of mild earnings downgrades and smaller future buyback assumptions. Target price reduced to (login to view). HOLD retained, with -5% potential TSR (including 4.4% cash yield).

Find out more

If you would like more information, please contact your adviser or nearest Morgans office. 

Disclaimer: The information contained in this report is provided to you by Morgans Financial Limited as general advice only, and is made without consideration of an individual's relevant personal circumstances. Morgans Financial Limited ABN 49 010 669 726, its related bodies corporate, directors and officers, employees, authorised representatives and agents (“Morgans”) do not accept any liability for any loss or damage arising from or in connection with any action taken or not taken on the basis of information contained in this report, or for any errors or omissions contained within. It is recommended that any persons who wish to act upon this report consult with their Morgans investment adviser before doing so.