National Australia Bank share price holds near highs after Q1 update; brokers lift targets, but capital stays in focus
NAB shares closed up 0.1% at A$48.32, near recent highs after reporting a 15% jump in Q1 cash earnings and a 2 bps rise in NIM to 1.80%. Broker targets increased, but Morningstar called the stock “materially overvalued.” The ASX 200 slipped 0.1%. NAB expects the RBA to raise rates in May, with its next results due May 4.