Goldman Sachs analyst Andrew Lyons downgraded Westpac Banking to Neutral from Conviction Buy with a price target of A$23.39, down from A$24.67. The analyst sees continued upward pressure on the company’s costs and says Westpac’s relative skew towards consumer lending leaves it more exposed to the macro environment.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on WEBNF: