Lloyds Banking Group (LON:LLOY) was downgraded by investment analysts at Morgan Stanley to an “equal weight” rating in a note issued to investors on Wednesday, January 10th. They currently have a GBX 75 ($1.02) price objective on the financial services provider’s stock, down from their prior price objective of GBX 80 ($1.08). Morgan Stanley’s price target indicates a potential upside of 6.23% from the company’s previous close.
Several other analysts have also recently weighed in on the stock. Deutsche Bank raised their target price on shares of Lloyds Banking Group from GBX 73 ($0.99) to GBX 77 ($1.04) and gave the company a “buy” rating in a report on Monday, October 23rd. Shore Capital reaffirmed a “buy” rating on shares of Lloyds Banking Group in a report on Wednesday, October 25th. Credit Suisse Group reaffirmed an “outperform” rating and issued a GBX 80 ($1.08) target price on shares of Lloyds Banking Group in a report on Monday, November 27th. Citigroup reaffirmed a “sell” rating and issued a GBX 61 ($0.83) target price on shares of Lloyds Banking Group in a report on Thursday, October 26th. Finally, Goldman Sachs Group set a GBX 55 ($0.75) target price on shares of Lloyds Banking Group and gave the company a “sell” rating in a report on Wednesday, November 8th. Four investment analysts have rated the stock with a sell rating, two have given a hold rating and fifteen have assigned a buy rating to the stock. Lloyds Banking Group has a consensus rating of “Buy” and a consensus price target of GBX 75.73 ($1.03).
Shares of Lloyds Banking Group (LON LLOY) opened at GBX 70.60 ($0.96) on Wednesday. The stock has a market cap of $50,810.00 and a PE ratio of 1,765.00. Lloyds Banking Group has a 1 year low of GBX 61.81 ($0.84) and a 1 year high of GBX 73.58 ($1.00).
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About Lloyds Banking Group
Lloyds Banking Group plc is a provider of financial services to individual and business customers in the United Kingdom. The Company’s main business activities are retail and commercial banking, general insurance, and long-term savings, protection and investment. The Company’s segments are Retail, Commercial Banking, Consumer Finance, Insurance and Other.
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