BOQ Can't Shake Bear Despite Confidence on Costs -- Market Talk

Dow Jones

Nov 12, 2024

2307 GMT - Bank of Queensland cannot shake its bear at Citi despite the prospect of the regional Australian lender outperforming its rivals on near-term costs. Analyst Brendan Sproules tells clients in a note that BOQ's expectation of broadly flat fiscal 2025 costs contrasts with a likely increase at its peers. He says that progress on productivity savings supports BOQ's cost outlook. Sproules also thinks that the bank's pullback from mortgage flow means it will be less affected than others by shifts in that market. However, he continues to think that management will miss fiscal 2026 targets and reiterates his sell rating. Target price stays at A$6.00. Shares are at A$6.59 ahead of the open. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

November 11, 2024 18:07 ET (23:07 GMT)

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Analyst Brendan Sproules tells clients in a note that BOQ's expectation of broadly flat fiscal 2025 costs contrasts with a likely increase at its peers. He says that progress on productivity savings supports BOQ's cost outlook. Sproules also thinks that the bank's pullback from mortgage flow means it will be less affected than others by shifts in that market. However, he continues to think that management will miss fiscal 2026 targets and reiterates his sell rating. Target price stays at A$6.00. Shares are at A$6.59 ahead of the open. (stuart.condie@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 11, 2024 18:07 ET (23:07 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>BOQ Can't Shake Bear Despite Confidence on Costs -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBOQ Can't Shake Bear Despite Confidence on Costs -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-11-12 07:07</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     2307 GMT - Bank of Queensland cannot shake its bear at Citi despite the prospect of the regional Australian lender outperforming its rivals on near-term costs. Analyst Brendan Sproules tells clients in a note that BOQ's expectation of broadly flat fiscal 2025 costs contrasts with a likely increase at its peers. He says that progress on productivity savings supports BOQ's cost outlook. Sproules also thinks that the bank's pullback from mortgage flow means it will be less affected than others by shifts in that market. However, he continues to think that management will miss fiscal 2026 targets and reiterates his sell rating. Target price stays at A$6.00. Shares are at A$6.59 ahead of the open. (stuart.condie@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 11, 2024 18:07 ET (23:07 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BOQ.AU","symbol_name":"BANK OF QUEENSLAND LTD","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2482389760","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2482389760","pubTimestamp":1731366420,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"2307 GMT - Bank of Queensland cannot shake its bear at Citi despite the prospect of the regional Australian lender outperforming its rivals on near-term costs. 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","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BOQ.AU":"BANK OF QUEENSLAND LTD","BK7139":"区域性银行"},"translate_title":"尽管对成本充满信心，但工程量清单仍无法摆脱熊市——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BOQ.AU":0.9},"content_text":"2307 GMT - Bank of Queensland cannot shake its bear at Citi despite the prospect of the regional Australian lender outperforming its rivals on near-term costs. Analyst Brendan Sproules tells clients in a note that BOQ's expectation of broadly flat fiscal 2025 costs contrasts with a likely increase at its peers. He says that progress on productivity savings supports BOQ's cost outlook. Sproules also thinks that the bank's pullback from mortgage flow means it will be less affected than others by shifts in that market. However, he continues to think that management will miss fiscal 2026 targets and reiterates his sell rating. Target price stays at A$6.00. Shares are at A$6.59 ahead of the open. (stuart.condie@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  November 11, 2024 18:07 ET (23:07 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}