Black Friday is Now! Don’t miss out on up to 60% OFF InvestingProCLAIM SALE

NatWest tide of upgrades continues with Canadian bank latest to raise target

Published 29/10/2024, 11:50
© Reuters NatWest tide of upgrades continues with Canadian bank latest to raise target
NWG
-

Proactive Investors - Natwest (LON:NWG) Group is continuing to get upgrades following its forecast-busting results last Friday.

Canadian bank RBC today upgraded its target to 390p from 365p though it still only expects the bank to perform in line with the sector.

RBC has raised its profit forecast for next year, 2025, by 7% driven by higher NII (higher loan growth and NIM) and other income.

Impairments were higher than expected but within guidance.

Over the next three years (2024-26), RBC expects model £9.9bn of shareholder returns (£5.2bn dividends; £4.7bn buybacks) with the last UK of the UK government’s stake to be cleared by the end of 2025.

Deutsche Bank (ETR:DBKGn), which has a buy rating and 460p target, said the results were solidly ahead of expectations with NIM expanding; loan book turnaround; deposit growth; and net asset growth.

Shares in NatWest today were 369.9p.

Read more on Proactive Investors UK

Disclaimer

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.