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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