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.
Goldmans Sachs slaps buy rating and $30.95 valuation on NAB...
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Last
$36.23 |
Change
0.200(0.56%) |
Mkt cap ! $112.2B | |||
| Open | High | Low | Value | Volume |
| $36.26 | $36.44 | $36.07 | $152.6M | 4.216M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3369 | $36.22 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $36.23 | 9815 | 2 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| NAB (ASX) Chart |