Westpac Banking Corp
WBC: XASX (AUS)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
A$43.00 | Jvjh | Cybtlckb |
Westpac: Positive Momentum but Cost Savings Still a Medium-Term Story
Westpac’s third-quarter 2024 update was a little better than we expected, prompting a 3% upgrade to our fiscal 2024 profit forecast but no change to our AUD 28 fair value estimate. Operating and bad debt expenses are both tracking a little lower than we anticipated, but neither affects our long-term view.