Barclays upgraded NatWest Group to Overweight from Equal Weight with a price target of 330 GBp, up from 315 GBp. With signs of slowing deposit migration, the analyst now sees the bank as best placed to overcome term-funding risks. The firm looks for a substantial rebound in net interest margin and earnings, ahead of consensus, driven by NatWest’s “best-in-class structural hedge tailwind.” NatWest is now its preferred pick among U.K. banks.
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