The Goldman Sachs Group Initiates Coverage on Commonwealth Bank of Australia (OTCMKTS:CMWAY)

Key Points

• The Goldman Sachs Group has initiated coverage on Commonwealth Bank of Australia (OTCMKTS:CMWAY) with a "sell" rating.
• Zacks Research has downgraded the bank's rating from "strong-buy" to "hold", contributing to an overall average rating of "Reduce".
• As of market performance, shares of Commonwealth Bank are down 2.7%, trading at $109.05, with a twelve-month high of $127.74.

Analysts at The Goldman Sachs Group began coverage on shares of Commonwealth Bank of Australia (OTCMKTS:CMWAY - Get Free Report) in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage set a "sell" rating on the stock.

Separately, Zacks Research cut shares of Commonwealth Bank of Australia from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 18th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Commonwealth Bank of Australia presently has an average rating of "Reduce" and an average target price of $130.18.

Commonwealth Bank of Australia Trading Down 2.7%

Shares of OTCMKTS:CMWAY opened at $109.05 on Wednesday. Commonwealth Bank of Australia has a twelve month low of $85.22 and a twelve month high of $127.74. The firm's 50 day moving average price is $111.52 and its 200-day moving average price is $110.51. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 2.18.

About Commonwealth Bank of Australia

Commonwealth Bank of Australia provides financial services in Australia, New Zealand, and internationally. It operates through Retail Banking Services, Business Banking, Institutional Banking and Markets, and New Zealand segments. The company offers transaction, savings, and foreign currency accounts; term deposits; personal and business loans; overdrafts; equipment finance; credit cards; international payment and trade; and private banking services, as well as home and car loans.

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