Australian and New Zealand Banking Group (OTCMKTS: ANZBY) upgraded to ‘Buy’ by Zacks Investment Research

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Australian and New Zealand Banking Group (OTCMKTS: ANZBYGet a rating) has been upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research note published on Monday, Zacks.com reports. The company currently has a target price of $23.00 on shares of the financial services provider. Zacks Investment ResearchThe stock’s target price indicates a potential upside of 11.81% from the stock’s previous close.

According to Zacks, “Austria and New Zealand Banking’s principal activities are the provision of general banking services, hire purchase and general financing, life insurance, property development, mortgages and other financial services. The Group operates in Australia, New Zealand, Europe, Asia, America and the Middle East.”

Other research analysts have also recently published research reports on the stock. JPMorgan Chase & Co. upgraded shares of the Australian and New Zealand banking group from a “neutral” rating to an “overweight” rating in a Friday, January 21 report. Jefferies Financial Group downgraded shares of the Australian and New Zealand banking group from a “buy” rating to a “hold” rating in a Monday, February 7, report. Finally, Credit Suisse Group upgraded shares of the Australian and New Zealand banking group from a “neutral” rating to an “outperforming” rating in a Monday, February 7, report. Two equity research analysts rated the stock with a hold rating and three assigned the company a buy rating. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $23.00.

ANZBY traded at $0.01 during Monday’s trading, reaching $20.57. The stock recorded trading volume of 83,700 shares, compared to an average volume of 99,993. The Australian and New Zealand banking group has a 12-month low of $18.04 and a 12-month high of $22.90. The company has a debt ratio of 1.59, a quick ratio of 1.12 and a current ratio of 1.12. The company has a 50-day simple moving average of $19.85 and a 200-day simple moving average of $20.08.

About the Australian and New Zealand Banking Group (Get a rating)

Australia and New Zealand Banking Group Limited provides a variety of banking and financial products and services in Australia and overseas. Its Australia Retail and Commercial division offers various products and services to consumer customers through the network of branches, mortgage specialists, contact centres, self-service channels and third-party brokers, as well as planning services. financial.

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