The Commonwealth Bank of Australia (ASX: CBA) share price has risen by 40% in the past year, as the chart below shows. The question is, can the ASX bank share keep rising?
We don't have a crystal ball to tell us what's going to happen. But, experts each have their own opinion on the situation and where the CBA share price could go from here.
The ASX bank share may be growing profit more consistently than some of its peers, but there's a lot of commentary on its valuation. Let's have a look at where experts are thinking the business could go from here.
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Analyst ratings on the CBA share price
Firstly, let's take a look at the broad view on the ASX bank share from various analysts.
According to a Commsec collation of analyst opinions, it's clear what the view of investment professionals on the business is.
There are currently zero buy ratings, there's one hold rating and 14 sell ratings.
That's one of the most universally negative ratings I've seen on a business.
Why so negative on the ASX bank share?
In its FY25 third quarter, the bank's numbers came in line with market expectations. It reported steady revenue growth and disciplined cost management.
Growth through its own channels within retail was 68% of new business (and this is likely supporting retail profitability), while the business continues to grow faster than the overall banking system in business banking (at 1.3x).
UBS believes CBA will grow its earnings per share (EPS) by 5.2% in FY25, which would be the highest growth rate among the large banks of Westpac Banking Corp (ASX: WBC), ANZ Group Holdings Ltd (ASX: ANZ) and National Australia Bank Ltd (ASX: NAB).
The broker pointed out that at the time of the note, the business was trading at a FY26 price to book ratio of 3.7x, which was significantly higher than its historical average. The CBA share price has climbed more than 8% since then, so it's even more expensive. In earnings multiple terms, it's trading at 28x FY26's estimated earnings.
UBS has a price target of $115 on the CBA share price, implying a possible fall of around 35%. The broker said:
We continue to rate the stock sell, as we see better value elsewhere in our coverage universe.
