Goldman Sachs downgraded NatWest (NWG) to Neutral from Buy with a price target of 685 GBp, up from 665 GBp. The firm adjusted ratings in the European bank group as part of its outlook for 2026. Goldman remains remain constructive on the outlook for the sector, saying investor focus is shifting from interest rates and credit to growth and efficiency. It thinks capital deployment will remain key for shareholder value creation.
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