Goldmans Sachs slaps buy rating and $30.95 valuation on NAB shares
The National Australia Bank Ltd (ASX: NAB) share price could be cheap according to analysts at Goldman Sachs who earlier this month slapped a buy rating on the Melbourne-headquartered lender.
The NAB share price is actually down around 24% from $33.74 to $25.04 over the past 5 years excluding the impact of dividends that have remained flat at $1.98 per share over the past three fiscal years to take the total return marginally positive over the period.
However, Goldmans has a $30.95 12-month price target on NAB shares with its optimism based on NAB’s successful costs savings program, a smooth leadership transition, and flat revenues over the short term.
NAB is also reportedly targeting a cost-to-income ratio of 35% by 2021 that goes to show its excellent profitability as a lender.
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Last
$38.38 |
Change
-0.570(1.46%) |
Mkt cap ! $118.2B | |||
| Open | High | Low | Value | Volume |
| $38.89 | $39.00 | $38.13 | $135.8M | 3.534M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 24866 | $38.35 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $38.38 | 52940 | 4 |
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| Last trade - 16.10pm 11/09/2024 (20 minute delay) ? |
| NAB (ASX) Chart |