Nomura Gives Reduce Rating to Commonwealth Bank of Australia (CBA)
Commonwealth Bank of Australia (ASX: CBA)‘s stock had its “reduce” rating reaffirmed by research analysts at Nomura in a report released on Wednesday. They currently have a $55.73 (54 AUD) target price on the stock.
Commonwealth Bank of Australia remained flat at A$62.720 during trading on Wednesday. Commonwealth Bank of Australia has a 1-year low of A$45.390 and a 1-year high of A$58.050. The stock’s 50-day moving average is currently A$55.24. The company has a market cap of A$99.429 billion and a price-to-earnings ratio of 14.81.
A number of other analysts have also recently weighed in on CBA. Analysts at Macquarie reiterated an “outperform” rating on shares of Commonwealth Bank of Australia in a research note to investors on Wednesday, December 19th. They now have a $29.40 price target on the stock. Separately, analysts at JPMorgan Chase downgraded shares of Commonwealth Bank of Australia to an “underweight” rating in a research note to investors on Monday, December 17th. They now have a $59.81 price target on the stock.
Commonwealth Bank of Australia (the Bank) is engaged in the provision of a range of banking and financial products and services to retail, small business, corporate and institutional clients.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.