In a review of Australian banks, Macquarie sees better relative prospects for National Australia Bank and ANZ Bank ((ANZ)) than retail overweight banks. The broker considers the 1H performance of National Australia Bank was the key standout in the recent reporting season.

While cautioning over the bank's past form on delivering, the analyst feels the improved franchise performance is worthy of a premium. The Outperform rating and $30.50 target price are maintained.

Sector: Banks.

Target price is $30.50.Current Price is $28.57. Difference: $1.93 - (brackets indicate current price is over target). If NAB meets the Macquarie target it will return approximately 6% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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