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Stock of the day

Judo Bank

Macquarie’s bullish note on Judo Bank points to rising net interest margins and strong SME lending prospects.

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This video was created on 27 November 2025 for IG audiences by ausbiz.

ASX code: JDO

Judo Bank surges on positive Macquarie outlook

Judo Bank shares rose nearly 6% today after a positive research note from Macquarie, which highlighted stronger-than-expected margins and favourable sector conditions for the small and medium-sized enterprise (SME) lender.

Macquarie noted that term deposit spreads remain favourable and are supporting Judo’s near-term net interest margin (NIM). According to the analysts, Judo is well positioned to exceed its financial year (FY) 2026 margin guidance, helped by easing competition for deposits and a reduced likelihood of interest rate cuts. Macquarie maintained its $1.95 price target and ‘outperform’ rating.

Investment outlook

Despite the upbeat outlook, analysts agree the stock remains a hold for now, pending either a more attractive entry price or a longer track record.

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