NAB and the 5th banking pillar Macquarie look very similar from a charting perspective, i.e. new highs look on the cards, but they’ve been clear laggards this year. We rate NAB our least preferred in the sector simply because the other banks are now going harder at business and institutional banking, which has traditionally been NABs key differentiator.
- We can see NAB testing its 2025 high in the coming months, though we prefer the others, in the following order: ANZ, WBC, MQG, CBA, NAB.
MM is cautiously bullish toward NAB
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