Citi upgrades National Australia Bank stock to Buy

Published on 10/12/2026 at 10:13 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Citi lifted its target to AUD 42.10 from AUD 40.00. National Australia Bank stock costs EUR 23.92 on October 12, 2026, with results due November 5, 2026.

Key points in brief

Citi upgraded National Australia Bank to Buy and lifted its target from AUD 40.00 to AUD 42.10.
NAB reported third-quarter 2026 revenue of AUD 5.20 billion, up 6.10 percent year over year.
NAB stock was at EUR 23.92 at Lang & Schwarz on October 12, 2026 at 10:07 a.m. CEST.
NAB lists November 5, 2026 for its full-year results announcement.

NAB, AU000000NAB4, Illustration mit AI erstellt.

National Australia Bank stock was at EUR 23.92 at Lang & Schwarz on October 12, 2026 at 10:07 a.m. CEST as Citi upgraded National Australia Bank to Buy and lifted its target from AUD 40.00 to AUD 42.10, according to TipRanks on September 16, 2026. The analyst action puts the bank's business-banking mix and return profile at the center of the valuation debate.

Three events set the context

On August 5, 2026, National Australia Bank announced Anna Bligh AC would join its board from September 1, 2026, according to Simply Wall St.

On August 11, 2026, NAB reshaped its executive leadership team, including the appointment of Pete Steel to lead Technology and AI, with Steel bringing more than 30 years of experience, the same Simply Wall St report says.

On September 16, 2026, Citi's move completed the recent sequence: the bank raised its target by AUD 2.00, or 5.00 percent, from AUD 40.00 to AUD 42.10, according to TipRanks.

What does the third quarter show?

NAB's third-quarter 2026 revenue reached AUD 5.20 billion, up 6.10 percent from the third quarter of 2025, while net income was AUD 1.80 billion and unchanged year over year, according to Simply Wall St. The reported profit margin fell to 35.00 percent from 37.00 percent as expenses increased, leaving revenue growth as the clearer support for the latest analyst upgrade.

A separate review of the June 2026 quarter put gross loans and acceptances at AUD 817.40 billion, up 6.00 percent year over year, and net interest income at AUD 4.60 billion, up 4.00 percent, according to Bondsupermart on September 18, 2026. The same review reported a Common Equity Tier 1 ratio of 11.93 percent, giving the balance sheet a measurable cushion as housing-credit growth moderates.

Results date and price context

NAB's shareholder centre lists November 5, 2026 for the 2026 full-year results announcement and reports an interim dividend of AUD 0.85 per ordinary share, according to National Australia Bank. The date gives the market a defined checkpoint for testing whether the June-quarter revenue growth can carry into the completed fiscal year.

At Lang & Schwarz, NAB stock was trading at EUR 23.92 on October 12, 2026 at 10:07 a.m. CEST. The finance quote for the ASX listing showed AUD 38.53, a market capitalization of AUD 118.0 billion, and a 52-week range of AUD 35.48 to AUD 49.45 on October 12, 2026; those Australian figures are separate from the euro indication.

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