National Bankshares Stock Recommendations and Price Targets

National Bankshares, Inc. operates as the bank holding company for the National Bank of Blacksburg that provides retail and commercial banking products and services to individuals, businesses, non-profits, and local governments. The company accepts interest-bearing and non-interest bearing demand deposit accounts, money market deposit accounts, savings accounts, certificates of deposit, health savings accounts, and individual retirement accounts. Its loan products include commercial and agricultural, commercial real estate, residential real estate, home equity, and various consumer loan products, as well as loans for the construction of commercial and residential properties. The company also provides business and consumer debit and credit cards; letters of credit, night depository services, safe deposit boxes, utility payment services, and automatic funds transfer; wealth management, trust, and estate services; non-deposit investment and insurance products; and telephone, mobile, and Internet banking services. It operates 23 branch offices, a loan production office, and 22 automated teller machines in Southwest Virginia. National Bankshares, Inc. was founded in 1891 and is headquartered in Blacksburg, Virginia.

This is a list of recent ratings by National Bankshares.

Date	Company Name	Action	Current Price	Price Target	Rating	Impact on Share Price
9/30/2022	HWX Headwater Exploration	Lower Price Target	C$5.00	C$10.50 ➝ C$9.50		N/A
9/30/2022	IMO Imperial Oil	Lower Price Target	C$60.00	C$86.00 ➝ C$73.00		N/A
9/30/2022	KEL Kelt Exploration	Lower Price Target	C$5.00	C$10.50 ➝ C$9.00		N/A
9/30/2022	MEG MEG Energy	Lower Price Target	C$15.00	C$30.00 ➝ C$26.00		N/A
9/30/2022	NVA NuVista Energy	Lower Price Target	C$10.00	C$16.50 ➝ C$15.00		N/A
9/30/2022	OVV Ovintiv	Lower Price Target	$46.00	$99.00 ➝ $77.00		Low
9/30/2022	POU Paramount Resources	Lower Price Target	C$24.00	C$45.00 ➝ C$40.00		N/A
9/30/2022	PEY Peyto Exploration & Development	Lower Price Target	C$11.00	C$19.00 ➝ C$17.00		N/A
9/30/2022	PSK PrairieSky Royalty	Lower Price Target	C$18.00	C$26.00 ➝ C$24.00		N/A
9/30/2022	SDE Spartan Delta	Lower Price Target	C$10.00	C$22.50 ➝ C$20.00		N/A
9/30/2022	SU Suncor Energy	Lower Price Target	C$39.00	C$63.00 ➝ C$53.00		N/A
9/30/2022	SGY Surge Energy	Lower Price Target	C$8.00	C$14.00		N/A
9/30/2022	TVE Tamarack Valley Energy	Lower Price Target	C$4.00	C$9.00 ➝ C$8.00		N/A
9/30/2022	VET Vermilion Energy	Boost Price Target	C$30.00	C$48.00 ➝ C$50.00		N/A
9/30/2022	WCP Whitecap Resources	Lower Price Target	C$9.00	C$17.50 ➝ C$15.50		N/A
9/30/2022	ARX ARC Resources	Lower Price Target	C$17.00	C$26.00 ➝ C$23.00		N/A
9/30/2022	BTE Baytex Energy	Lower Price Target	C$6.00	C$10.00 ➝ C$9.00		N/A
9/30/2022	CNQ Canadian Natural Resources	Lower Price Target	C$64.00	C$100.00 ➝ C$88.00		N/A
9/30/2022	CVE Cenovus Energy	Lower Price Target	C$21.00	C$38.00 ➝ C$36.00		N/A
9/30/2022	CPG Crescent Point Energy	Lower Price Target	C$8.00	C$20.00 ➝ C$18.00		N/A
9/30/2022	ERF Enerplus	Lower Price Target	$14.00	$26.00 ➝ $21.00		Low
9/30/2022	FRU Freehold Royalties	Lower Price Target	C$14.00	C$20.00 ➝ C$19.00		N/A
9/29/2022	BCE BCE	Lower Price Target	C$58.00	C$71.00 ➝ C$68.00	Outperform	N/A
9/29/2022	PIF Polaris Renewable Energy	Set Price Target	C$16.00	C$21.00	Outperform	N/A
9/29/2022	RCI.B Rogers Communications	Lower Price Target	C$53.00	C$77.00 ➝ C$75.00	Outperform	N/A
9/29/2022	T TELUS	Lower Price Target	C$27.00	C$36.00 ➝ C$34.00	Outperform	N/A
9/28/2022	TVE Tamarack Valley Energy	Set Price Target	C$4.00	C$9.00	Outperform	N/A
9/26/2022	WSP WSP Global	Lower Price Target	C$152.00	C$188.00 ➝ C$181.00	Outperform	N/A
9/22/2022	CNR Canadian National Railway	Boost Price Target	C$149.00	C$166.00 ➝ C$173.00		N/A
9/22/2022	CP Canadian Pacific Railway	Boost Price Target	C$92.00	C$98.00 ➝ C$105.00		N/A
9/21/2022	INE Innergex Renewable Energy	Boost Price Target	C$17.00	C$24.00 ➝ C$25.00	Outperform	N/A
9/21/2022	K Kinross Gold	Boost Price Target	C$5.00	C$8.25 ➝ C$9.00	Outperform	N/A
9/20/2022	FORA VerticalScope	Lower Price Target	C$10.00	C$22.00 ➝ C$19.00	Outperform	N/A
9/16/2022	EMP.A Empire	Lower Price Target	C$34.00	C$42.00 ➝ C$40.00		N/A
9/15/2022	DR Medical Facilities	Set Price Target	C$11.00	C$11.00	Sector Perform	N/A
9/15/2022	WILD WildBrain	Lower Price Target	C$2.00	C$5.00 ➝ C$3.50	Outperform	N/A
9/14/2022	KEC Kiwetinohk Energy	Boost Price Target	C$14.00	C$25.00 ➝ C$27.50	Outperform	N/A
9/12/2022	CJR.B Corus Entertainment	Downgrade	C$2.00	C$5.00 ➝ C$3.25	Outperform ➝ Sector Perform	N/A
9/12/2022	DOL Dollarama	Boost Price Target	C$79.00	C$82.00 ➝ C$86.00	Outperform	N/A
9/9/2022	TRZ Transat A.T.	Lower Price Target	C$3.00	C$3.75 ➝ C$2.50	Underperform	N/A
9/1/2022	ATD Alimentation Couche-Tard	Upgrade	C$56.00	C$63.00 ➝ C$68.00	Sector Perform ➝ Outperform	N/A
9/1/2022	LB Laurentian Bank of Canada	Lower Price Target	C$30.00	C$53.00 ➝ C$51.00	Sector Perform	N/A
9/1/2022	RCI.B Rogers Communications	Lower Price Target	C$53.00	C$78.00 ➝ C$77.00	Outperform	N/A
8/26/2022	CM Canadian Imperial Bank of Commerce	Boost Price Target	C$60.00	C$83.00 ➝ C$84.00	Outperform	N/A
8/26/2022	TD Toronto-Dominion Bank	Boost Price Target	C$85.00	C$102.00 ➝ C$106.00	Sector Perform	N/A
8/25/2022	RY Royal Bank of Canada	Boost Price Target	C$124.00	C$147.00 ➝ C$148.00	Outperform	N/A
8/24/2022	DOL Dollarama	Boost Price Target	C$79.00	C$77.00 ➝ C$82.00	Outperform	N/A
8/23/2022	CHE.UN Chemtrade Logistics Income Fund	Set Price Target	C$7.00	C$11.00	Outperform	N/A
8/23/2022	TFII TFI International	Boost Price Target	C$125.00	C$150.00 ➝ C$152.00	Outperform	N/A
8/22/2022	TCN Tricon Residential	Boost Price Target	C$12.00	C$17.00 ➝ C$18.00	Outperform	N/A
8/19/2022	CR Crew Energy	Boost Price Target	C$5.00	C$6.75 ➝ C$7.50	Sector Perform	N/A
8/19/2022	SCL Shawcor	Boost Price Target	C$9.00	C$8.50 ➝ C$12.00	Outperform	N/A
8/18/2022	APR.UN Automotive Properties Real Est Invt TR	Boost Price Target	C$13.00	C$13.00 ➝ C$13.50	Sector Perform	N/A
8/17/2022	DXT Dexterra Group	Lower Price Target	C$6.00	C$12.00 ➝ C$10.00		N/A
8/17/2022	ATD Alimentation Couche-Tard	Boost Price Target	C$56.00	C$59.00 ➝ C$63.00	Sector Perform	N/A
8/17/2022	CRR.UN Crombie Real Estate Investment Trust	Boost Price Target	C$14.00	C$17.50 ➝ C$18.00	Outperform	N/A
8/17/2022	INO.UN Inovalis Real Estate Investment Trust	Lower Price Target	C$4.00	C$7.25 ➝ C$6.00	Sector Perform	N/A
8/17/2022	KNT K92 Mining Inc. (KNT.V)	Boost Price Target	C$8.00	C$10.50 ➝ C$10.75	Outperform	N/A
8/17/2022	SRU.UN SmartCentres Real Estate Investment Trst	Boost Price Target	C$26.00	C$29.00 ➝ C$30.00	Sector Perform	N/A
8/17/2022	TWM Tidewater Midstream and Infrastructure	Set Price Target	C$1.00	C$1.75	Outperform	N/A
8/17/2022	TV Trevali Mining	Downgrade	C$0.00	C$0.55 ➝ C$0.25	Sector Perform ➝ Underperform	N/A
8/16/2022	NPI Northland Power	Boost Price Target	C$40.00	C$47.00 ➝ C$49.00	Outperform	N/A
8/16/2022	AFN Ag Growth International	Boost Price Target	C$32.00	C$47.00 ➝ C$52.00	Outperform	N/A
8/16/2022	AMC Arizona Metals	Set Price Target	C$4.00	C$7.25	Outperform	N/A
8/16/2022	AYA Aya Gold & Silver	Boost Price Target	C$8.00	C$8.00 ➝ C$10.50	Outperform	N/A
8/16/2022	BMO Bank of Montreal	Lower Price Target	C$121.00	C$152.00 ➝ C$151.00		N/A
8/16/2022	CM Canadian Imperial Bank of Commerce	Lower Price Target	C$60.00	C$84.00 ➝ C$83.00		N/A
8/16/2022	NXR.UN Nexus Real Estate Investment Trust	Boost Price Target	C$2.00	C$10.00 ➝ C$11.00	Sector Perform	N/A
8/16/2022	NWH.UN NorthWest Health Prop Real Est Inv Trust	Lower Price Target	C$11.00	C$15.50 ➝ C$14.00		N/A
8/16/2022	RY Royal Bank of Canada	Lower Price Target	C$124.00	C$148.00 ➝ C$147.00		N/A
8/16/2022	SSL Sandstorm Gold	Lower Price Target	C$7.00	C$12.50 ➝ C$11.50	Outperform	N/A
8/16/2022	BNS Bank of Nova Scotia	Lower Price Target	C$66.00	C$91.00 ➝ C$90.00		N/A
8/15/2022	CG Centerra Gold	Lower Price Target	C$6.00	C$14.00 ➝ C$10.50	Outperform	N/A
8/15/2022	CEU CES Energy Solutions	Boost Price Target	C$2.00	C$3.50 ➝ C$3.70	Outperform	N/A
8/15/2022	EIF Exchange Income	Boost Price Target	C$41.00	C$59.00 ➝ C$61.00	Outperform	N/A
8/15/2022	FVI Fortuna Silver Mines	Lower Price Target	C$3.00	C$4.50 ➝ C$4.25	Sector Perform	N/A
8/15/2022	GRT.UN Granite Real Estate Investment Trust	Boost Price Target	C$67.00	C$85.00 ➝ C$90.00	Outperform	N/A
8/15/2022	HR.UN H&R Real Estate Investment Trust	Boost Price Target	C$10.00	C$15.25 ➝ C$16.50	Outperform	N/A
8/15/2022	LAS.A Lassonde Industries	Lower Price Target	C$109.00	C$161.00 ➝ C$141.00	Outperform	N/A
8/15/2022	MMX Maverix Metals	Lower Price Target	C$6.00	C$6.75 ➝ C$6.50	Outperform	N/A
8/15/2022	PAAS Pan American Silver	Boost Price Target	C$22.00	C$39.00 ➝ C$44.00	Outperform	N/A
8/15/2022	PLC Park Lawn	Lower Price Target	C$24.00	C$45.00 ➝ C$38.00	Outperform	N/A
8/15/2022	SIA Sienna Senior Living	Boost Price Target	C$12.00	C$15.00 ➝ C$16.00	Outperform	N/A
8/15/2022	WDO Wesdome Gold Mines	Lower Price Target	C$9.00	C$16.00 ➝ C$15.00	Outperform	N/A
8/15/2022	WPM Wheaton Precious Metals	Lower Price Target	C$45.00	C$70.00 ➝ C$68.00	Outperform	N/A
8/12/2022	BEI.UN Boardwalk REIT	Boost Price Target	C$46.00	C$52.00 ➝ C$58.00	Outperform	N/A
8/12/2022	CTC.A Canadian Tire	Lower Price Target	C$147.00	C$215.00 ➝ C$213.00	Outperform	N/A
8/12/2022	CAR.UN Canadian Apartment Properties REIT	Boost Price Target	C$42.00	C$50.00 ➝ C$52.00	Outperform	N/A
8/12/2022	CCL.B CCL Industries	Boost Price Target	C$67.00	C$79.00 ➝ C$81.00	Outperform	N/A
8/12/2022	CHE.UN Chemtrade Logistics Income Fund	Boost Price Target	C$7.00	C$9.25 ➝ C$11.00	Outperform	N/A
8/12/2022	ECN ECN Capital	Boost Price Target	C$5.00	C$8.00 ➝ C$8.50	Outperform	N/A
8/12/2022	FSZ Fiera Capital	Boost Price Target	C$9.00	C$10.00 ➝ C$10.50	Sector Perform	N/A
8/12/2022	KMP.UN Killam Apartment REIT	Boost Price Target	C$15.00	C$19.25 ➝ C$20.50	Outperform	N/A
8/12/2022	GUD Knight Therapeutics	Boost Price Target	C$5.00	C$7.50 ➝ C$7.75	Outperform	N/A
8/12/2022	KPT KP Tissue	Lower Price Target	C$10.00	C$10.50 ➝ C$9.50	Sector Perform	N/A
8/12/2022	RSI Rogers Sugar	Boost Price Target	C$6.00	C$5.75 ➝ C$6.00	Sector Perform	N/A
8/12/2022	XBC Xebec Adsorption	Lower Price Target	C$1.00	C$2.00 ➝ C$1.75	Sector Perform	N/A
8/11/2022	AKU Akumin	Lower Price Target	$2.00	$0.75 ➝ $0.50	Underperform	N/A
8/11/2022	HOT.UN American Hotel Income Properties REIT	Boost Price Target	C$3.00	C$3.75 ➝ C$4.00	Sector Perform	N/A
8/11/2022	AND Andlauer Healthcare Group	Boost Price Target	C$48.00	C$54.50 ➝ C$59.00	Outperform	N/A