JPMorgan raises target for NatWest stock from GBp 830.00 to GBp 840.00

Published on 10/07/2026 at 10:35 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

RoTE reached 19.70 percent in the first half of 2026. NatWest stock costs EUR 7.86 on October 7, 2026 versus EUR 7.88, minus 0.25 percent.

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 stock was at EUR 7.86 at Lang & Schwarz on October 7, 2026 at 10:32 a.m. CEST, versus a EUR 7.88 prior close and a minus 0.25 percent change. As Stockopedia reported on October 1, 2026, JPMorgan raised its NatWest target from GBp 830.00 to GBp 840.00.

JPMorgan lifts the target

The target increase is the clearest current analyst signal for the London-listed bank. Stockopedia carried the research roundup as a Reuters report and assigned the action to JPMorgan, while the rating entry kept the focus on valuation rather than a change in the bank's operating plan.

The move followed NatWest's first-half performance. ScanX reported that return on tangible equity reached 19.70 percent in the first half of 2026 and that full-year return guidance moved above 19.00 percent.

Margins show the operating leverage

Income excluding notable items rose 5.40 percent to GBP 4.4 billion in the second quarter of 2026, while total operating costs grew 1.80 percent to GBP 2.1 billion, according to ScanX. The difference between income and cost growth reduced the cost-income ratio by 2.80 percentage points to 46.00 percent, bringing it closer to NatWest's 2028 target of below 45.00 percent.

That comparison matters because the target revision is paired with measurable operating progress, not just a market-rating change. ScanX also reported customer assets and liabilities of GBP 986.9 billion in the second quarter, up 9.60 percent, with the Evelyn Partners acquisition contributing to the increase.

Results date is set

NatWest's investor-relations page says the group will release third-quarter 2026 results on October 30, 2026, at 7:00 a.m. GMT, with a management presentation at 9:00 a.m. GMT. The same page dates the first-half 2026 release to July 31 and identifies NatWest as a UK bank serving more than 20 million customers.

For the stock, the next test is whether the October results date brings another update to profitability and capital guidance. The current analyst action and the 46.00 percent cost-income ratio give investors two separate reference points: valuation expectations and execution against the bank's efficiency target.

Stock trades below the prior close

At Lang & Schwarz, NatWest stock was trading at EUR 7.86 on October 7, 2026 at 10:32 a.m. CEST, down EUR 0.02 from the EUR 7.88 prior close on October 6, 2026. NatWest Group is listed on the London Stock Exchange under ticker NWG, with the primary share quotation in GBp.

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