Barclays upgraded NatWest to Overweight with GBp 850 target for NatWest stock

Published on 10/19/2026 at 09:39 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Barclays raised its target to GBp 850.00 from GBp 740.00 on October 13, 2026. NatWest stock costs EUR 7.78 on October 19, 2026 before Q3 results.

Catalysts and reporting milestones

Barclays set an 850.00 GBp target on October 13, 2026, up from 740.00 GBp.
NatWest reported GBP 4.36 billion of second-quarter revenue and GBP 1.60 billion of net income.
NatWest stock trades at EUR 7.78 at 9:35 a.m. CEST at Lang & Schwarz on October 19, 2026.
Third-quarter results are scheduled for October 30, 2026, followed by annual results on February 12, 2027.

Fotorealistisches Bürogebäude einer Großbank in Edinburgh bei Sonnenuntergang — NatWest Group plc Hauptsitz als modernes Glasgebäude in Edinburgh bei goldenem Abendlicht, ISIN GB00BM8PJ831, Illustration mit AI erstellt.

NatWest (ISIN GB00BM8PJY71) was trading at EUR 7.78 at Lang & Schwarz on October 19, 2026 at 9:35 a.m. CEST. According to Markets Insider on October 13, 2026, Barclays upgraded NatWest from Equal Weight to Overweight and raised its target from GBp 740.00 to GBp 850.00.

Barclays sees earnings upside

The Barclays view rests on higher interest rates, continued business growth and the integration of Evelyn, the wealth management business acquired by NatWest. The broker also raised its earnings per share forecasts by as much as 7 percent across 2026 to 2028, while identifying deposit costs and possible UK banking tax changes as counter-factors, according to Yahoo Finance.

Three dated signals for investors

NatWest disclosed three relevant stock events in chronological order. On September 28, 2026, its share plan bought 21 ordinary shares for Chief Customer and Operations Officer James Holian at GBP 6.9486 per share, according to StockTitan. On October 1, 2026, ten directors purchased shares at GBP 6.7040, and on October 13, 2026, Barclays announced the 850.00 GBp target.

What comes next for results?

NatWest's investor calendar lists third-quarter results for October 30, 2026 and annual results for February 12, 2027, according to NatWest Group. The October release will test whether the earnings case behind Barclays' upgrade is appearing in reported figures.

Second-quarter profitability sets the base

NatWest's second-quarter 2026 revenue reached GBP 4.36 billion, up 14 percent from the second quarter of 2025, while net income rose 30 percent to GBP 1.60 billion. The profit margin was 37 percent, compared with 32 percent a year earlier, and revenue exceeded analyst estimates by 2.5 percent, according to Simply Wall St.

Stock price and investor watchpoints

The current trading reference is the euro quote from Lang & Schwarz, while the main risk factors identified in the Barclays view are funding costs and possible changes to UK bank taxation. The scheduled results date gives investors the next concrete checkpoint for the upgraded earnings thesis.

NatWest stock was trading at EUR 7.78 at Lang & Schwarz on October 19, 2026 at 9:35 a.m. CEST. The further course of trading is shown by the continuously updated real-time quote of NatWest stock.