NAB CFO's Exit Turns a Bull Into a Bear -- Market Talk

Dow Jones

Mar 17, 2025

0504 GMT - The highly unusual departure of National Australia Bank's chief financial officer prompts Jarden analysts to flip bearish on the lender. Cutting their recommendation on the stock to underweight from overweight, they are worried that Nathan Goonan's resignation for the same role at Westpac could raise uncertainty and risks at NAB. They add in a note that they aren't surprised by separate changes in leadership at NAB's business and private wealth unit but wonder why there is an interim appointment given there is an apparent overlap between the incumbent's departure and the newcomer's arrival. They speculate that there could be deeper cultural or operational issues at NAB's business bank. Jarden cuts its target price by 21% to A$30.00. Shares are down 0.5% at A$33.13. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

March 17, 2025 01:04 ET (05:04 GMT)

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Cutting their recommendation on the stock to underweight from overweight, they are worried that Nathan Goonan's resignation for the same role at Westpac could raise uncertainty and risks at NAB. They add in a note that they aren't surprised by separate changes in leadership at NAB's business and private wealth unit but wonder why there is an interim appointment given there is an apparent overlap between the incumbent's departure and the newcomer's arrival. They speculate that there could be deeper cultural or operational issues at NAB's business bank. Jarden cuts its target price by 21% to A$30.00. Shares are down 0.5% at A$33.13. 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Cutting their recommendation on the stock to underweight from overweight, they are worried that Nathan Goonan's resignation for the same role at Westpac could raise uncertainty and risks at NAB. They add in a note that they aren't surprised by separate changes in leadership at NAB's business and private wealth unit but wonder why there is an interim appointment given there is an apparent overlap between the incumbent's departure and the newcomer's arrival. They speculate that there could be deeper cultural or operational issues at NAB's business bank. Jarden cuts its target price by 21% to A$30.00. Shares are down 0.5% at A$33.13. (stuart.condie@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 17, 2025 01:04 ET (05:04 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK7511","symbol_name":"ESG概念","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2520593563","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2520593563","pubTimestamp":1742187840,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0504 GMT - The highly unusual departure of National Australia Bank's chief financial officer prompts Jarden analysts to flip bearish on the lender. Cutting their recommendation on the stock to underweight from overweight, they are worried that Nathan Goonan's resignation for the same role at Westpac could raise uncertainty and risks at NAB. They add in a note that they aren't surprised by separate changes in leadership at NAB's business and private wealth unit but wonder why there is an interim appointment given there is an apparent overlap between the incumbent's departure and the newcomer's arrival. They speculate that there could be deeper cultural or operational issues at NAB's business bank. Jarden cuts its target price by 21% to A$30.00. Shares are down 0.5% at A$33.13. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK7511":"ESG概念","BK7135":"综合性银行","NABZY":"National Australia Bank Ltd. 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Shares are down 0.5% at A$33.13. (stuart.condie@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  March 17, 2025 01:04 ET (05:04 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}