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ANZ stock initiated with Buy rating at Goldman Sachs on new CEO potential

Published 09/10/2025, 11:40
ANZ stock initiated with Buy rating at Goldman Sachs on new CEO potential
ANZ
0.17%
ANZGY
-0.92%

Investing.com - Australia & New Zealand Banking Group (ASX:ANZ) (OTC:ANZBY) received a Buy rating initiation from Goldman Sachs on Thursday, with a price target of AUD37.54.

Goldman Sachs believes the recent CEO change in May 2025 represents a potential turning point for ANZ, noting the bank’s domestic divisions have collectively lost approximately AUD900 million in cash earnings over the past five and a half years.

The investment bank expects ANZ’s new leadership to better align cost and revenue growth, projecting pre-provision operating profit earnings momentum of 5% in fiscal year 2027 and 6% in fiscal year 2028.

Goldman Sachs identifies four key drivers for ANZ’s business and share price performance: the SUN Bank integration, reshaping of the Australian domestic cost base, revenue contributions from ANZ Plus, and a turnaround in market share.

The firm considers ANZ its preferred major bank on a 12-month view, stating the stock offers the best value in the sector on a blended valuation basis given its current medium-term prospects.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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