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National Australia Bank (NAB) $33.55

At this point, we believe NAB is the lowest quality of the major ASX banks, and its more than 25% correction in recent weeks illustrates that the market agrees. NAB is forecast to yield less than WBC and ANC in the coming 12 months; we would want to see it exceed them both from an income perspective before we consider it, and a re-test of $40 seems unlikely in the coming year. NAB is set to report and trade ex-dividend in May.

  • We can see NAB recovering some of its steep losses in Christmas, but it’s not on our radar.
NAB
MM is cautiously bullish NAB
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National Australia Bank (NAB)
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