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Goldman lowers NBK price target

Goldman Sachs has cut its price target on National Bank of Kuwait's (NBK) stock, saying that low loan growth because of delays in implementing development projects could affect the lender in the near term, Reuters has reported. The brokerage has reduced the price target to KD1.39 ($5.07) from KD1.53, and said it expects asset quality trends for NBK's international operations, especially in Egypt, to remain challenging. Goldman maintained its "neutral" rating on the stock, for which it started coverage earlier this year.