NAB's Business Bank Strength Fails to Lure New Bull
Dow Jones
Jul 31
0120 GMT - The strength of National Australia Bank's market-leading business-banking franchise isn't enough to turn Macquarie analysts more positive on the stock. They tell clients that NAB continues to look like a better bet than its major peers based on its return profile, even though its stock has outperformed those of its rivals since May. However, they warn that the revenue outlook across the sector is becoming more challenging and macro conditions are deteriorating. In this environment, competition will likely weigh on NAB's margins, they add. Macquarie keeps a neutral rating on the stock with a target price of 39.00 Australian dollars. Shares are up 0.2% at A$41.635.
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