Latest news with #WestpacBanking
Business Insider
4 days ago
- Business
- Business Insider
Westpac Banking (WEBNF) Gets a Sell from J.P. Morgan
J.P. Morgan analyst Andrew Triggs maintained a Sell rating on Westpac Banking (WEBNF – Research Report) today and set a price target of A$28.50. The company's shares closed yesterday at $20.20. Confident Investing Starts Here: Triggs covers the Financial sector, focusing on stocks such as Macquarie Group Limited, ANZ Group Holdings, and National Australia Bank Limited. According to TipRanks, Triggs has an average return of 3.1% and a 51.58% success rate on recommended stocks. The word on The Street in general, suggests a Moderate Sell analyst consensus rating for Westpac Banking with a $18.59 average price target, which is a -7.97% downside from current levels. In a report released on May 26, Jarden also maintained a Sell rating on the stock with a A$30.00 price target.
Business Insider
6 days ago
- Business
- Business Insider
Jarden Keeps Their Sell Rating on Westpac Banking (WEBNF)
Jarden analyst Matthew Wilson maintained a Sell rating on Westpac Banking (WEBNF – Research Report) on May 26 and set a price target of A$30.00. The company's shares closed yesterday at $20.50. Confident Investing Starts Here: Wilson covers the Financial sector, focusing on stocks such as ANZ Group Holdings, National Australia Bank Limited, and Westpac Banking. According to TipRanks, Wilson has an average return of -5.0% and a 43.48% success rate on recommended stocks. Westpac Banking has an analyst consensus of Moderate Sell, with a price target consensus of $18.66, representing a -8.98% downside. In a report released on May 16, Macquarie also maintained a Sell rating on the stock with a A$27.50 price target. The company has a one-year high of $23.28 and a one-year low of $16.30. Currently, Westpac Banking has an average volume of 2,694.
Straits Times
22-05-2025
- Business
- Straits Times
South Korean won touches seven-month high on report of currency talks with US
SEOUL – The South Korean won climbed to a seven-month high late on May 21 after local media reported the direction of the currency was discussed during trade talks with the US. The currency rallied after newspaper Korea Economic Daily cited an unnamed government official as saying the US believes a relatively weak won is a fundamental cause of the Asian nation's trade surplus. The talks are ongoing and nothing has been decided yet, Korea's finance ministry said in a statement. The won advanced as much as almost 2 per cent to 1,368.50 per dollar on May 21, the strongest level since October 2024. The currency unwound some of those gains on May 22, weakening 0.6 per cent. 'The idea of currency accords was always mostly the cherry on top for what was already a compelling medium bullish case for Asia FX,' said Mr Richard Franulovich, head of foreign-exchange strategy at Westpac Banking in Sydney. The won's volatility comes amid concern the US is using the threat of higher tariffs to convince its trading partners to allow their currencies to strengthen. US President Donald Trump and other officials in his administration have long argued weakness in Asian currencies is handing exporters in the countries an unfair advantage. The won sunk to the weakest level in a decade in April as rising trade tensions following Mr Trump's 'liberation day' tariff threats sapped demand for emerging-market assets. While strengthening in recent weeks, the won is still one of the world's most undervalued currencies, based on its real effective exchange rate. The yen briefly weakened earlier on May 22 after US Treasury Secretary Scott Bessent and Japanese Finance Minister Katsunobu Kato reaffirmed that markets should dictate currency levels. Korea's currency has strengthened almost 7 per cent against the greenback this quarter, the best performer in Asia after the Taiwan dollar, according to data compiled by Bloomberg. The won closed 0.9 per cent higher on May 14 after a media report said officials from Korea and the US discussed currency policy at a meeting in Milan. 'I foresee challenges with putting exchange-rate clauses that target certain levels in any trade agreement, so would not necessarily think a trade-related catalyst is pending,' said Mr Brendan McKenna, a strategist at Wells Fargo in New York. Still, 'the won could certainly strengthen more if local officials agree to certain FX sticking points,' he said. BLOOMBERG Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Insider
06-05-2025
- Business
- Business Insider
UBS Keeps Their Buy Rating on Westpac Banking (WEBNF)
UBS analyst John Storey maintained a Buy rating on Westpac Banking (WEBNF – Research Report) today and set a price target of A$36.00. The company's shares closed last Friday at $21.00. Protect Your Portfolio Against Market Uncertainty Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter. Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox. According to TipRanks, Storey is an analyst with an average return of -10.3% and a 29.23% success rate. Storey covers the Financial sector, focusing on stocks such as Westpac Banking, Bendigo & Adelaide Bank, and Macquarie Group Limited. Westpac Banking has an analyst consensus of Moderate Sell, with a price target consensus of $19.03. Based on Westpac Banking's latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $10.82 billion and a net profit of $3.64 billion. In comparison, last year the company earned a revenue of $10.38 billion and had a net profit of $3.2 billion
Business Insider
06-05-2025
- Business
- Business Insider
Morgans Reaffirms Their Hold Rating on Westpac Banking (WEBNF)
In a report released today, Nathan Lead from Morgans maintained a Hold rating on Westpac Banking (WEBNF – Research Report), with a price target of A$28.35. The company's shares closed last Friday at $21.00. Protect Your Portfolio Against Market Uncertainty Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter. Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox. Lead covers the Industrials sector, focusing on stocks such as Transurban Group, Atlas Arteria, and Cleanaway Waste Management. According to TipRanks, Lead has an average return of 5.1% and a 60.00% success rate on recommended stocks. Westpac Banking has an analyst consensus of Moderate Sell, with a price target consensus of $19.03. The company has a one-year high of $23.28 and a one-year low of $16.30. Currently, Westpac Banking has an average volume of 2,280.
