Business · Markets · 1 hr ago
ANZ shares recover 12% from a 52-week low
ANZ Group Holdings shares have risen about 12% from a 52-week low recorded in early June.
The Australian bank’s shares were trading at $37.88 in early Tuesday trade.
The June fall came amid geopolitical uncertainty and a sharp drop in global commodity prices, which raised concerns about inflation and interest rates.
The recent recovery has been supported by ANZ’s third-quarter FY26 results, progress integrating Suncorp Bank and investors shifting away from other Australian bank shares.
ANZ said customer migration as part of the Suncorp integration is scheduled to finish by June 2027, and expects the deal to bring about $500 million in annual pre-tax cost savings by FY29.
Broker views are divided, with most rating the shares as a hold and an average price target of $36.05, about 5% below the current price.
ANZ is less exposed than some major Australian banks to home lending, but it is not immune to pressure from inflation, interest rates or a weaker property market.
ANZ Group shares have rebounded around 12% from an annual low recorded in early June.
The shares were almost flat at $37.88 in early Tuesday trading and were up 4% year to date.
The June decline followed economic concerns including geopolitical volatility, falling global commodity prices and possible effects on inflation and interest rates.
A third-quarter FY26 result, progress integrating Suncorp Bank and investor rotation away from other Australian bank shares supported the rebound.
Analyst views are mixed, and a $36.05 target price implies about 5% downside.
- Who
- ANZ Group Holdings Ltd.
- What
- Its shares have rebounded around 12% from an annual low.
- When
- The low was recorded in early June; the shares were almost flat in early trading on Tuesday.
- Where
- Australia, where ANZ shares trade on the ASX.
- Why
- The rebound was supported by ANZ’s third-quarter FY26 result, progress integrating Suncorp Bank and investor rotation away from other Australian bank shares.
Analysts with buy or strong-buy ratings
Analysts with hold or sell ratings
Rating
Analysts with buy or strong-buy ratings
Six of 16 analysts rated the shares buy or strong buy.
Analysts with hold or sell ratings
Seven rated them hold and three rated them sell or strong sell.
Price outlook
Analysts with buy or strong-buy ratings
Some analysts forecast a rise to $41 per share over the next 12 months.
Analysts with hold or sell ratings
Other analysts forecast a fall of up to 35%, to $24.82 per share.
ANZ shares recorded an annual low after market concerns linked to geopolitical volatility, falling global commodity prices, inflation and interest rates.
ANZ reported a $1.90 billion cash profit for the quarter, up 1% from the first quarter of FY26.
ANZ shares were almost flat at $37.88 and stood around 12% above the early-June low.
- Share price
- $37.88 in early Tuesday trading
- Rebound
- Around 12% from the early-June annual low
- Cash profit
- $1.90 billion in the latest trading update
- Suncorp integration
- Customer migration scheduled for completion by June 2027
- Expected savings
- Approximately $500 million in annual pre-tax cost savings by FY29
Sources
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