NAB – Morgan Stanley rates the stock as Equal-weight

Morgan Stanley has issued a 72 pager on Australian banks, expressing the view the banks, as a group, might well outperform the broader share market in 2022 “against a backdrop of higher rates”.

In support of its thesis, the broker notes credit quality should prove resilient, while the outlook for margins is positive and loan growth expectations are “reasonable”.

The industry view has been lifted to Attractive. National Australia Bank is rated Equal-weight, with a fresh price target of $28.50 (was $27.90).

This report was released on January 20 (yesterday).

Sector: Banks.


Target price is $28.50.Current Price is $28.26. Difference: $0.24 – (brackets indicate current price is over target). If NAB meets the Morgan Stanley target it will return approximately 1% (excluding dividends, fees and charges – negative figures indicate an expected loss).



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