Commonwealth Bank: Q1 report card

About the author:

Nathan Lead
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).

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