Barclays upgrades NatWest stock and raises target to GBp 850.00

Published on 10/21/2026 at 10:34 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Barclays raised its NatWest target to GBp 850.00 on October 13, 2026. NatWest stock costs EUR 7.67 on October 21, 2026 and Q2 net income was GBP 1.603 billion.

Target revision and results

Barclays lifted its NatWest target to GBp 850.00 on October 13, 2026.
Second-quarter 2026 revenue reached GBP 4.364 billion and net income GBP 1.603 billion.
NatWest stock traded at EUR 7.67 at 10:32 a.m. CEST at Lang & Schwarz on October 21, 2026.

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 Group (GB00BM8PJY71) is facing a higher valuation bar after Barclays upgraded the bank to Overweight and raised its price target from GBp 740.00 to GBp 850.00 on October 13, 2026. Investing.com reported that Barclays cited stronger earnings prospects, higher interest rates and expansion plans.

The upgrade matters because NatWest entered the second half of 2026 with stronger reported profitability. Simply Wall St said second-quarter 2026 revenue was GBP 4.364 billion, while net income reached GBP 1.603 billion. Net margin was 36.70 percent, compared with 32.40 percent a year earlier, a 4.30 percentage-point increase.

Results support the target case

NatWest's latest figures also show why analysts are emphasizing earnings capacity rather than only the share price. The second-quarter net income figure was 30.00 percent above the GBP 1.233 billion reported for the comparable period in 2025, according to Simply Wall St. That improvement gives the Barclays target a measurable operating basis, although funding costs and lending spreads remain important variables for the next report.

Three milestones shape the story

On February 13, 2026, NatWest reported fiscal-year 2025 net income of GBP 5.834 billion. On July 31, 2026, the bank released second-quarter results showing GBP 1.603 billion of net income. On October 13, 2026, Barclays raised its target to GBp 850.00 from GBp 740.00. The company investor calendar records the results dates and current reporting schedule.

What dates come next?

NatWest Group lists the next quarterly results for October 30, 2026, followed by annual results for February 12, 2027. Those dates will test whether the first-half profitability trend continues into the second half.

Target meets a results test

For investors, the central question is whether fee income, cost control and lending growth can sustain the profitability shown in the second quarter. The Barclays target is therefore tied to a concrete earnings record, while the October 30 results provide the next scheduled measurement point.

NatWest stock was trading at EUR 7.67 at Lang & Schwarz on October 21, 2026 at 10:32 a.m. CEST.

The further course of trading is shown by the continuously updated real-time quote of NatWest stock.