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The· Bank of Australia and New Zealand Grp Ltd (ASX: ANZ) The stock price had a strong performance in 2021.
Since the beginning of this year, the share of bank giants has risen considerably by 21%.
Can ANZ’s stock price continue to rise?
Investors may wonder if it’s too late to invest, as ANZ’s stock price is soaring this year.
The good news is that one big broker doesn’t believe it. In fact, over the next 12 months, ANZ stocks are still showing a decent rise.
According to a recent note Goldman Sachs, The analyst held their purchase rating and raised their price target for company stock to $ 30.50. This means a potential increase of 9% from now to this time of next year, excluding dividends.
In addition, Goldman Sachs forecasts a full-frank dividend of $ 1.40 in 2021 and $ 1.45 in 2022. Based on the current ANZ share price of $ 28.00, this means yields of 5% and 5.2% over the next two years, respectively. Year.
Combining Goldman’s price targets and dividend forecasts, ANZ shares are expected to provide investors with a total return of over 14% over the next 12 months.
Why is Goldman so positive about ANZ?
Goldman likes ANZ for several reasons. This includes net interest margin (NIM) management, growth prospects, valuations, and yields.
It explains: “ANZ’s NIM is managed very effectively in the face of volume decline. This trend is expected to continue into FY21E. The resulting revenue pressure is commissions (and the market in the first half of 2009). ) Is also negatively impacted, but should be offset by the productivity benefits of the next year. “
“Equities are traded at PPOP multiples by more than one standard deviation than the sector, even though they are expected to offer 5% PPOP / stock CAGR over two years (24% discount vs. 11% long-term average). Discount). FY23E (upward from capital management), c. 5% dividend yield. “
Can ANZ (ASX: ANZ) stock prices continue to rise?
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