2300 GMT - Commonwealth Bank's bear at Citi doesn't see anything in the lender's first-half result to justify its recent share-price run. Analyst Brendan Sproules acknowledges that CBA's cash earnings were about 1.5% ahead of his forecast, but tells clients in a note that the overall result is solid rather than strong. He adds that asset quality and loan growth were the key positives, but points out that management expects both to moderate as the economy slows. Citi has a last-published sell rating and A$91.50 target price on the stock, which is at A$162.16 ahead of the open. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
February 11, 2025 18:01 ET (23:01 GMT)
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