Westpac Banking Corp

WBC: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$95.00	Gkpn	Kcgzwxkl

Westpac: Positive Momentum but Cost Savings Still a Medium-Term Story

Nathan Zaia

Aug 19, 2024

Westpac’s third-quarter 2024 update was a little better than we expected, prompting a 3% upgrade to our fiscal 2024 profit forecast but no change to our AUD 28 fair value estimate. Operating and bad debt expenses are both tracking a little lower than we anticipated, but neither affects our long-term view.

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