Australian Shares Recommendations

National Australia Bank's (NAB) plans to underwrite the interim DRP will leave the balance sheet in a slightly stronger position from Australian stockmarket analysts from Citi.

National Australia Bank (NAB): Is it time to NAB a Dividend?

Rio Tinto Ltd (RIO) production was broadly OK and showed volume growth year-on-year from stockmarket analyst Macquarie Research Equities.

Rio Tinto Ltd (RIO): Production OK, Growth to Come

Westfield Group (WDC) are extremely well positioned and has a $19.79 share price target from Australian stock analyst Macquarie Research Equities

Westfield Group (WDC) Earnings robust in uncertain environment

Superior operator in an uncertain environment:

National Australia Bank (NAB) has a $34.50 share price target from Australian stock analyst Macquarie Research Equities.

National Australia Bank (NAB) Great costs, soft revenues and weak BDD

1H08 Cash NPAT down 10% seq. Strong div. Up 10c on pcp:

Australian Banking Sector Update from sharemarket analyst Macquarie Research Equities.

Australian Banking Sector Update

Time to buy back the shorts

We are increasing our price targets on the banks by an average 5%:

Following a better than expected reporting season and clarity around environment and event risk, we are moving to increase our price targets across the bank sector. On average, our PT's have been increased by 5%.

Banks have been large under-performers YTD:

Lower near-term uranium price forecasts for Australian resources provided by Australian stockmarket analyst Macquarie Research Equities.

Australian Resources

Lower near-term uranium price forecasts

Lower uranium price forecasts:

Here is a review on the Australian equity strategy.The resources hit been upgraded while the rest of the market has been downgraded from Australian market analyst UBS.

Australian Equity Strategy

Earnings Revision Trends

Resources Upgraded While Rest Of Market Downgraded:

Over the last 3 months, weighted aggregate market FY08e and FY09e consensus earnings have been downgraded. However, resources have been upgraded while the rest of the market has been downgraded. Of the rest of the market, Financials have led the way down.

Macquarie Infrastructure Group (MIG) has a $3.55 share price target and an Outperform recommendationfrom Australian stock analyst Macquarie Research Equities.

Pennsylvania could trigger 407 refinance

Pennsylvania Turnpike (~US$12-15bn) bids due imminently:

Westfield Group (WDC) has a price target of $19.79 from Australian stock analyst UBS.

Westfield Group (WDC) Domestically strong, US seasonal

Esteemed operator in an uncertain environment:

national-australia-bank-limited-nab.jpg

MRE have a neutral recommendation with a $35.10 12-month price target.

National Australia Bank Limited (NAB) – Not All Bad!

NAB reported first-half 2008 earnings of $2.089m which was 1.8% below the forecast of Macquarie Research (MRE) with $1.28 Earnings Per Share vs MRE forecast of $1.31. The dividend of $0.97 will be underwritten with a 2.5% discount. MRE believe the operating performance of NAB was good and the quality of the underlying asset trend is sound.

National Australia Bank (NAB) shares have lost 18% of their value in 2008.