ANZ Group (ASX:ANZ) has seen a rise as analysts at Morgan Stanley have raised their price target on the Australian corporation from A$26.20 to A$27 per share.

Moving from equal-weight to over-weight, Morgan Stanley has also upgraded their stock rating of ANZ Group (ASX:ANZ).

The shares of ANZ Group (ASX:ANZ) were up by 1.7% at A$25.63.

The organization appears to be having an exceptional day, since it is the sole gainer amongst the ‘Big Four’ lenders.

ANZ Group (ASX:ANZ) continues to be Morgan Stanley’s preferred major bank in Australia.

A highlight in its favor has been a mix of its business, improved operating performance, and valuation support.

Morgan Stanley contends that ANZ Group (ASX:ANZ) is ideally positioned to manage costs, catalyzed by its sound record of handling cost control.

Out of 14 analysts, nine rate the ANZ Group (ASX:ANZ) stock as ‘buy’ or higher, three maintain a ‘hold’ and two advise a ‘sell’.

Hence, their median price target is at A$26.13, according to LSEG data.

To note, ANZ Group’s stock has seen a rise of 6.5% this year, till the last closing.

ANZ Group (ASX:ANZ) is one of Australia’s largest banking groups.