NAB – Credit Suisse rates the stock as Neutral

Credit Suisse downgrades to Neutral from Outperform, noting the stock has rallied 5% over the reporting season and is up 64% on a rolling year basis.

While the bank has restored operating momentum, the broker believes this is now captured in the share price.

National Australia Bank has historically traded at a -5% PE discount to the major banks compared to its current level of parity, the broker adds. Target is steady at $28.50.

Sector: Banks.


Target price is $28.50.Current Price is $28.18. Difference: $0.32 – (brackets indicate current price is over target). If NAB meets the Credit Suisse target it will return approximately 1% (excluding dividends, fees and charges – negative figures indicate an expected loss).



About Broker News

FNArena's Australian Broker Call, is your daily news report on the latest recommendation, valuation, forecast and opinions recently published by Stockbrokers.

View more articles by Broker News →