Citi raises target for National Australia Bank stock to AUD 42.10

Published on 10/09/2026 at 11:28 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Third-quarter revenue rose 6.10 percent to AUD 5.20 billion. National Australia Bank stock costs EUR 23.48 on October 9, 2026 after EUR 23.53.

Key points in brief

Citi upgraded NAB to Buy and raised its 12-month target from AUD 40.00 to AUD 42.10 on September 16, 2026.
NAB reported third-quarter 2026 revenue of AUD 5.20 billion, up 6.10 percent year over year, while net income was AUD 1.80 billion.
The stock was trading at EUR 23.48 at Lang & Schwarz on October 9, 2026, down 0.21 percent from the EUR 23.53 prior close.
NAB's next annual earnings release is scheduled for November 4, 2026.

NAB, AU000000NAB4, Illustration mit AI erstellt.

National Australia Bank stock (ISIN AU000000NAB4) was trading at EUR 23.48 at Lang & Schwarz on October 9, 2026, while Citi had upgraded the bank to Buy and lifted its 12-month target from AUD 40.00 to AUD 42.10 on September 16, 2026, as reported by Motley Fool. The 5.25 percent target increase gives the bank's recent trading update a more constructive analyst backdrop.

Three events shaped the stock

On August 17, 2026, NAB reported third-quarter revenue of AUD 5.20 billion, up 6.10 percent from the third quarter of 2025, while net income was AUD 1.80 billion, flat year over year, according to Simply Wall St.

On September 14, 2026, NAB announced JPY 15.0 billion of subordinated fixed-reset notes due in September 2036, with an initial annual interest rate of 3.19 percent, according to Veye. Citi's September 16 upgrade then set the most direct valuation reference for the shares.

What does the target change imply?

The move from AUD 40.00 to AUD 42.10 was a 5.25 percent increase in Citi's target, but the target is denominated in Australian dollars and cannot be compared directly with the Lang & Schwarz euro quote. The operating figures show why earnings quality matters: third-quarter net income of AUD 1.80 billion was flat year over year even as revenue rose 6.10 percent.

NAB's third-quarter update also showed gross loans and acceptances of AUD 817.00 billion, customer deposits of AUD 685.00 billion and a Common Equity Tier 1 ratio of 11.93 percent in June 2026, according to Bondsupermart. Credit impairment charges were AUD 299.00 million, up from AUD 254.00 million in the third quarter of 2025, creating a measurable counterweight to the revenue increase.

Annual results arrive in November

NAB's next annual earnings release is scheduled for November 4, 2026, according to MarketScreener. That date gives investors the next formal checkpoint for profit, credit quality and capital strength after the June 2026 trading update.

NAB stock holds near its yearly floor

At 11:19 a.m. CEST on October 9, 2026, the stock was trading at EUR 23.48 at Lang & Schwarz, down 0.21 percent versus the EUR 23.53 prior close from October 8, 2026. The primary listing is ASX in Australian dollars; its 52-week range was AUD 35.48 to AUD 49.45 and market capitalization was AUD 115.4 billion as of October 9, 2026. The further course of trading is shown by the continuously updated real-time quote of National Australia Bank stock.