0430 GMT - ANZ is seen by UBS analyst John Storey as the most interesting name in Australian banking as the lender prepares for a new CEO. Storey says that Nuno Matos will have a clean slate when he starts work next week, calling out costs, capital and provisions as three areas of focus. He says ANZ is expected to change significantly under Matos and adds that investors are wondering whether it can improve shareholder returns. The stock is trading at a steep discount to peers and its own historic ratings, he adds. UBS cuts its target price by 3.2% and stays neutral on the stock, which is down 0.7% at A$29.19. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
May 09, 2025 00:30 ET (04:30 GMT)
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