Original article by Patrick Commins
The Australian Financial Review – Page: 19 : 4-Feb-15

Morgan Stanley estimates that Commonwealth Bank of Australia (CBA) shares are now trading at 15.7 times the group’s forecast earnings for 2014-15. In contrast, the stock has traded at an average of around 12.9 per cent during the last 10 years. CBA shares have risen by 5.5 per cent in the last month, closing above $A90 on 3 February 2015. Shares in the three other major banks have also rallied in 2015, but CBA is the only one with a 30 June financial year

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, MORGAN STANLEY AUSTRALIA LIMITED, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, BLOOMBERG LP, UBS HOLDINGS PTY LTD, MORNINGSTAR PTY LTD