Lloyds Banking Group (LON:LLOY) Rating Reiterated by Morgan Stanley

Lloyds Banking Group (LON:LLOYGet Rating)‘s stock had its “overweight” rating reiterated by analysts at Morgan Stanley in a research note issued to investors on Tuesday, Marketbeat reports. They presently have a GBX 62 ($0.79) price objective on the financial services provider’s stock. Morgan Stanley’s target price would indicate a potential upside of 32.20% from the stock’s previous close.

Several other equities research analysts have also commented on the stock. Royal Bank of Canada lowered shares of Lloyds Banking Group to an “underperform” rating and lowered their price target for the company from GBX 45 ($0.57) to GBX 44 ($0.56) in a report on Wednesday, March 30th. Jefferies Financial Group set a GBX 63 ($0.80) price objective on Lloyds Banking Group in a report on Tuesday, January 11th. JPMorgan Chase & Co. lifted their price target on shares of Lloyds Banking Group from GBX 56 ($0.71) to GBX 60 ($0.76) and gave the company an “overweight” rating in a research note on Tuesday, March 29th. Barclays reissued an “equal weight” rating and set a GBX 58 ($0.74) target price on shares of Lloyds Banking Group in a research note on Wednesday, April 20th. Finally, Shore Capital reaffirmed a “buy” rating on shares of Lloyds Banking Group in a research note on Friday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Lloyds Banking Group currently has a consensus rating of “Hold” and an average target price of GBX 56.38 ($0.72).

LON:LLOY opened at GBX 46.90 ($0.60) on Tuesday. Lloyds Banking Group has a 12 month low of GBX 38.10 ($0.49) and a 12 month high of GBX 56 ($0.71). The company has a market capitalization of £32.93 billion and a P/E ratio of 6.25. The firm has a fifty day simple moving average of GBX 47.12 and a 200-day simple moving average of GBX 48.70.

In other news, insider William Chalmers sold 322,702 shares of the firm’s stock in a transaction on Monday, March 7th. The stock was sold at an average price of GBX 42 ($0.54), for a total transaction of £135,534.84 ($172,743.87). Also, insider Robin Budenberg bought 500,000 shares of the firm’s stock in a transaction that occurred on Monday, February 28th. The shares were purchased at an average cost of GBX 47 ($0.60) per share, for a total transaction of £235,000 ($299,515.68).

Lloyds Banking Group Company Profile (Get Rating)

Lloyds Banking Group plc, together with its subsidiaries, provides a range of banking and financial services in the United Kingdom. It operates through three segments: Retail; Commercial Banking; and Insurance and Wealth. The Retail segment offers a range of financial service products, including current accounts, savings, mortgages, motor finance, unsecured loans, leasing solutions, and credit cards to personal and small business customers.

Further Reading

Analyst Recommendations for Lloyds Banking Group (LON:LLOY)

Receive News & Ratings for Lloyds Banking Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lloyds Banking Group and related companies with MarketBeat.com's FREE daily email newsletter.