On Thursday, analysts at Morgan Stanley released revised expectations for Macquarie indicating not much is to happen in FY10 but FY11 should see EPS growth of no less than 57 per cent.
Morgan Stanley, which is not part of the regular FNArena universe of local share market experts, has a twelve-month price target for Macquarie shares, of $54.90. This compares with a current average target of $39.48 and a last share price of $43.80.
Meanwhile Suncorp is expected to report another small EPS decline in FY10 but FY11 should subsequently see a top of the market advance of 40 per cent (that is, if we exclude Morgan Stanley). However, what are the odds that Suncorp-Metway will still exist in its present form by then?
The only average price target that remained unchanged this week was Suncorp's.
20090731 Bank Update-4
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