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Jefferies cuts Westpac PT on persistent margin pressure

By Reuters News

** Analysts at Jefferies lower the price target for Australia's Westpac Banking WBC.AX to A$34.44 from A$34.99; keep "hold" rating

** Jefferies says some Q4FY26 net interest margin (NIM) headwinds for Westpac should unwind in H1FY27, but expect underlying margin pressure to persist as hedge benefits slow

** Australia's second largest home lender by assets on Monday posted annual net profit excluding notable items of A$6.99 billion ($4.90 billion), in line with Visible Alpha consensus estimate

** Brokerage lowers FY27-29 earnings estimate by 1-2% for Westpac on weaker NIM

** Westpac said mortgage applications fell 15% in the September quarter from a year earlier, but remained above the five-year average for the period

** WBC down 3.7% YTD, as of last close


($1 = 1.4253 Australian dollars)

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