Australia's Westpac rises as Jefferies raises price target ahead of FY26 results

By Reuters News

** Shares of Australia's Westpac WBC.AX rise as much as 0.8% to A$35.410

** Jefferies raises its price target on WBC to A$34.99 from A$34.71 and maintains a "hold" rating ahead of the bank's FY26 result on November 2

** Brokerage forecasts FY26 gross loans and advances to rise 5% YoY, with housing and non-housing lending growth of 2% and 12%, respectively

** It expects FY27 cash NPAT of A$6.96 bln ($4.87 bln), broadly flat YoY, with volume growth offset by margin pressure and higher bad-debt charges

** Brokerage expects mortgage competition to continue limiting margin upside, with FY27 net interest margin forecast at 1.87% versus 1.88% in FY26

** Forecasts a CET1 ratio of 12.48%, broadly unchanged from 12.5% in FY25, and no longer expects a special dividend despite strong capital levels

** Stock down 8.6% YTD, including the session's moves


($1 = 1.4284 Australian dollars)

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