NatWest: What We Think of the Stock After Earnings
Raising our fair value estimate after lifting our net interest margin and capital distribution assumptions.
Niklas Kammer, CFA
Niklas Kammer, CFA, is a senior equity analyst for Morningstar Holland BV (“Morningstar”), a wholly owned subsidiary of Morningstar, Inc.
More From Niklas Kammer, CFA
London Stock Exchange Group: What We Think of the Stock After Earnings
Management damped expectations for AI-related revenue impacts in the short term.
Raising Fair Value Estimate for Lloyds Stock After Earnings
Net interest margins are likely to increase if UK interest rates rise.
NatWest Earnings: Good Quarter Despite Higher Provisions; Shares Attractive
We maintain out fair value estimate for NatWest stock.
Lloyds Earnings: We Expect Good Operating Performance This Year, but Risks Are Slowly Building
We think Lloyds Banking Group stock is fairly valued.
Barclays Earnings: Return on Tangible Equity Above Full-Year Target Despite One-Off Provisions
We maintain our fair value estimate for Barclays stock.
London Stock Exchange: Early Signs That AI Is a Tailwind
We think London Stock Exchange Group stock is moderately undervalued.
NatWest: We're Raising Our Fair Value Estimate as We See Bank's Franchise Value Strengthening
We think NatWest Group stock is fairly valued.
London Stock Exchange: Rapid LLM Development Pace Increases Uncertainty; Base Case Unchanged
We think London Stock Exchange Group stock is moderately undervalued.
LSEG Earnings: Buyback and Medium-Term Guidance Display Confidence
We think London Stock Exchange Group stock is significantly undervalued.
Ahead of Earnings, is London Stock Exchange Group a Buy, Sell or Hold?
Here’s what we’re looking for in LSEG’s upcoming earnings report.
Klarna Earnings: Transaction Margin Dollars Miss Sends Shares Lower, but Thesis Intact
We think Klarna Group stock is significantly undervalued.
Barclays Earnings: New Strategy Sends Strong Signal but Requires Strong Execution
We think Barclays stock is fairly valued.
London Stock Exchange Group: AI-Related Selloff Overlooks Value of Data Ownership
We think London Stock Exchange Group stock is significantly undervalued.
Lloyds Earnings: Strong Guidance for 2026 and Structural Hedge Point to Improving Returns
We think Lloyds Banking Group stock is moderately overvalued.
Klarna Earnings: Rapid Growth in Longer-Term Financing Spikes Provisions; Shares Attractive
We think Klarna stock is moderately undervalued.
Wise Earnings: We Raise Our Fair Value Estimate on Better-Than-Expected Business Volumes
We think Wise stock is fairly valued.
NatWest Earnings: Another Improvement in FVE for 2025; Upgrade Our Moat Rating to Narrow
We think NatWest Group stock is moderately overvalued.
Lloyds Earnings: Good Underlying Performance Lifts Guidance, but Car Finance Investigation Distracts
We think Lloyds Banking Group stock is fairly valued.
London Stock Exchange Group: Data and Analytics Growth and Additional Share Buyback Positive
We think London Stock Exchange Group stock is moderately undervalued.
Klarna’s IPO Should Provide a Great Opportunity for Investors
Growth is what it is all about for Klarna.
Adyen Earnings: Tariff Impacts Result in Softer 2025 Guidance, but Execution Is on Point
We maintain our fair value estimate for Adyen stock; shares undervalued.
London Stock Exchange Earnings: Further Acceleration of Data and Analytics Expected
Our fair value estimate for the stock is maintained.
Barclays Earnings: Investment Bank and Corporate Bank Shine
We maintain our fair value estimate for the UK high street bank.
Wise Trading Update Shows Decent Customer Growth, Shares Expensive
Volume growth comes mainly from new customers.
NatWest Earnings: Bank Lifts Guidance in Line With Expectations
We maintain our fair value estimate for the UK-listed bank.
Lloyds Earnings: Good Second Quarter; Shares Fairly Valued
Lloyds is diversifying its income stream away from its net interest income business toward more fee-income-based revenue.
Deutsche Bank Earnings: Good Performance in Fixed Income
We think Deutsche Bank stock is expensive.
Deutsche Bank Earnings: Good Performance in Fixed Income
We think Deutsche Bank stock is expensive.
Worldline: Negative Media Reports Threaten Turnaround
We lower our Fair Value Estimate, as the company has a hard time generating economic profits.
