CBA shares: I investigated the bull and bear case. Here's my verdict

Résumé détaillé

The market is split, so I did my own reasearch. The post CBA shares: I investigated the bull and bear case. Here's my verdict appeared first on The Motley Fool Australia.

Market sentiment on Commonwealth Bank of Australia (ASX: CBA) shares is strongly divided between the bulls and the bears.

Some consider the ASX banking shares to be a foundational asset. Meanwhile others think the stock is drastically overvalued.

CBA's share movement so far in 2026 is a great example of the ongoing tug-of-war between the contrasting views. The stock has swung wildly between $146.98 and $185.59, with several sharp spikes and crashes.

TradingView data shows that analysts widely expect a decline in value, with some maintaining that the shares could fall as low as $90 within the next 12 months.

But every time CBA shares have dipped below the $150-mark this year, they've flown back up.

It made me question, what exactly are the bull and bear cases for CBA shares, and what's my own verdict?

CBA is a huge and dominant ASX company. At the time of writing, the banking giant is the largest bank listed on the sharemarket and the second-largest overall, behind BHP Group Ltd (ASX: BHP), with a market capitalization of around $284 billion.

According to CBA's FY26 report, as at 30th June the bank had $1.45 trillion in assets and 18.6 million customers. That's around two-thirds of the Australian population.

While the bank's size doesn't automatically make its shares a bargain. But CBA's huge scale and solid operational performance means it can deliver consistent earnings, even when markets are weaker.

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