JPMorgan Chase & Co. Upgrades Westpac Banking (WBK) to “Overweight”
JPMorgan Chase & Co. upgraded shares of Westpac Banking (NYSE:WBK) from a neutral rating to an overweight rating in a research report released on Tuesday morning, The Fly reports.
Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Westpac Banking from a hold rating to a buy rating and set a $28.00 price target for the company in a research report on Sunday, January 21st. ValuEngine cut shares of Westpac Banking from a buy rating to a hold rating in a research report on Thursday, November 30th. Credit Suisse Group cut shares of Westpac Banking from an outperform rating to a neutral rating in a research report on Monday, November 6th. Finally, Macquarie upgraded shares of Westpac Banking from a neutral rating to an outperform rating in a research report on Wednesday, January 17th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $28.00.
Shares of Westpac Banking (WBK) opened at $25.23 on Tuesday. Westpac Banking has a 1 year low of $22.17 and a 1 year high of $27.05. The company has a debt-to-equity ratio of 2.74, a current ratio of 1.26 and a quick ratio of 1.26. The firm has a market cap of $85,390.00, a PE ratio of 13.64, a price-to-earnings-growth ratio of 3.71 and a beta of 1.34.
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About Westpac Banking
Westpac Banking Corporation is a banking organization. The Company provides a range of banking and financial services in markets, including consumer, business and institutional banking and wealth management services. The Company is engaged in the provision of financial services, including lending, deposit taking, payments services, investment portfolio management and advice, superannuation and funds management, insurance services, leasing finance, general finance, interest rate risk management and foreign exchange services.
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