0213 GMT - National Australia Bank's capital position leaves the lender with less room to positively surprise analysts, UBS analysts say. They tell clients in a note that NAB, which is traditionally strong in business banking, needs to balance its strong lending growth against its 11.7% CET1 capital ratio, as rival Westpac this week reported a 12.5% ratio. With a 75% payout ratio already forecast, this gives NAB less headroom to surprise to the upside, UBS says. The analysts add that NAB needs to rebuild its capital buffers, maintain cost discipline and execute targeted lending initiatives if it is to drive earnings growth. UBS raises its target price by 13% to A$42.50 and keeps a neutral rating on the stock, which is up 1.5% at A$43.69. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

November 06, 2025 21:13 ET (02:13 GMT)

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