0124 GMT - National Australia Bank's bull at UBS says 1H performance looks strong at a divisional level. Analyst John Storey flags the lender's business bank as a standout, pointing to a 10% rise in cash earnings from six months earlier. Storey tells clients in a note that NAB's cash earnings were slightly higher than he had anticipated, once one-off items are stripped out. He continues to think that the recent decline in NAB's stock, which has lost more than 20% if its value since the end of February, is overdone. UBS has a last-published buy rating and A$50.50 target price on the stock, which is down 2.4% at A$38.86. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

May 03, 2026 21:24 ET (01:24 GMT)

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