10:47 AM EST, 11/05/2026 (MT Newswires) -- BofA Global Research reduced its price objective for NatWest Group (NWG.L) to 8 pounds sterling from 8.50 pounds following the UK-based banking group's "decent" third-quarter results, taking into account an increased cost of equity given a higher risk-free rate in the country. "Although NII was a small miss, it included a model change - excluding it NII would have been broadly in line, with NIM growth excluding the model change c.3bps in the quarter. Loan growth was again strong, up 2% in the quarter, including 4% in Commercial. However, management spoke to 'broadly stable' NIM in Q4 and into 2027, reflecting higher competition, mix, and customer behaviour in a higher rate environment. That said, they remain comfortable with their capacity to maintain the lending growth momentum, which should increasingly be a driver of NII growth," analysts wrote in a Thursday note. The research firm's forecast changes, meanwhile, included lower net interest income and reported EPS estimates for 2026 through 2028. Meanwhile, BofA retained its buy rating on NatWest, saying it still views the stock as "attractive" on fundamentals.

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