NAB rallied another +2.4% yesterday extending its 2-week bounce from October lows to an impressive +9.7%, the “Big 4” again stormed higher with an average gain of +2.3% on a day when the market closed slightly in the red. The sector enjoyed a few almost inevitable upgrades after this weeks Bank of Queensland (BOQ) result including NAB being raised to an accumulate by CLSA with a $31.30 price target, we believe they are being too conservative!
- We remain bullish NAB with new highs and an 82c fully franked dividend potentially on the menu this quarter.
MM is bullish NAB ~$30.50
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