RBC Capital upgrades NatWest to 'outperform'
NATWEST GROUP
265.50p
17:05 28/03/24
1.03%
2.70p
RBC Capital Markets upgraded NatWest to ‘outperform’ from ‘sector perform’ on Thursday and lifted its price target to 240p from 190p, implying around 20% upside to the current share price.
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17:14 28/03/24
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17:14 28/03/24
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17:14 28/03/24
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16:50 28/03/24
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RBC said valuation multiples do not take into account the bank’s "superior" three-year total return yield of 34% versus 20% for peers.
"We are 10% above consensus for shareholder capital return between 2021 and 2023," it said. In addition, it noted the potential for book value and earnings upgrades from write-backs and a steeper yield curve.