Australia's Bendigo and Adelaide Bank eyes best day in over 3-yrs on NIM boost
** Shares of Bendigo and Adelaide Bank BEN rise as much as 8.2% to A$10.730, set for best day since Feb 15, 2021, if gains hold
** Stock hits highest level since Aug 12, 2022, and is top gainer on ASX 200 benchmark index XJO
** The lender posts net interest margin (NIM) for 10 months ended April 30 of 1.87%, up from 1.83% in first-half results
** Posts YTD unaudited cash earnings after tax of A$464 mln ($309.07 mln), down 2.3%
** Analysts at Citi say the trading update reflects a catch-up from H1 where NIM was abnormally low due to deposit pricing missteps that have now been rectified
** Citi, however, expects similar difficult core earnings growth trends to persist
** Brokerage raises PT to A$9.50 from A$8.60, keeps "sell" rating
** Raises FY24 cash earnings estimate by 6.5%, FY25-FY26 estimate ~11%
** Stock up 2.6% YTD, as of last close
($1 = 1.5013 Australian dollars)