NatWest Group PLC (LSE:NWG) is continuing to garner upgrades following its forecast-busting results last Friday.
Canadian bank RBC on Tuesday upgraded its target to 390p from 365p though it still only expects the bank to perform in line with the sector.
RBC has raised its profit forecast for next year, 2025, by 7% driven by higher NII (higher loan growth and NIM) and other income.
Impairments were higher than expected but within guidance.
Over the next three years (2024-26), RBC expects model £9.9bn of shareholder returns (£5.2bn dividends; £4.7bn buybacks) with the last UK of the UK government’s stake to be cleared by the end of 2025.
Deutsche Bank, which has a buy rating and 460p target, said the results were solidly ahead of expectations with NIM expanding; loan book turnaround; deposit growth; and net asset growth.
Shares in NatWest traded sideways at 369.9p.