Aussie bank shares “too expensive to own” as mum
After the market closed on 13 March, major broker Macquarie released a research report titled "Australian Banks: This time it's different.” In the report, they reiterated their view that ASX bank stocks were priced for perfection as they were “trading at peak multiples without a clear fundamental reason.”
Geez, tell us what you really think Macquarie!
They went on to retain an UNDERWEIGHT rating on the entire Aussie banking sector, and then downgraded their ratings on three of the Big 4:
As for the rest, Macquarie already had Commonwealth Bank of Australia $CommBank(CBA.AU$ , Bendigo and Adelaide Bank $Bendigo and Adelaide Bank Ltd(BEN.AU$ , Bank of Queensland $Bank of Queensland Ltd(BOQ.AU$ and Judo Capital Holdings $Judo Capital Holdings Ltd(JDO.AU$ rates as UNDERPERFORM.
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