Morgan Stanley Reaffirms Overweight Rating for Lloyds Banking Group (LON:LLOY)

Lloyds Banking Group (LON:LLOY – Get Rating)‘s stock had its “overweight” rating reaffirmed by research analysts at Morgan Stanley in a research report issued to clients and investors on Wednesday, Digital Look reports.

A number of other brokerages have also recently issued reports on LLOY. Jefferies Financial Group set a GBX 63 ($0.78) target price on shares of Lloyds Banking Group in a research report on Tuesday, January 11th. Shore Capital reaffirmed a “buy” rating on shares of Lloyds Banking Group in a research note on Friday, April 22nd. Berenberg Bank reaffirmed a “hold” rating and issued a GBX 52 ($0.64) price target on shares of Lloyds Banking Group in a research note on Friday, May 6th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 63 ($0.78) price target on shares of Lloyds Banking Group in a research note on Thursday, March 10th. Finally, JPMorgan Chase & Co. boosted their price target on Lloyds Banking Group from GBX 56 ($0.69) to GBX 60 ($0.74) and gave the company an “overweight” rating in a research note on Tuesday, March 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of GBX 56.38 ($0.70).

Shares of Lloyds Banking Group stock opened at GBX 43 ($0.53) on Wednesday. The firm has a 50-day moving average of GBX 46.09 and a 200-day moving average of GBX 48.46. The stock has a market cap of £29.95 billion and a PE ratio of 5.97. Lloyds Banking Group has a 52-week low of GBX 38.10 ($0.47) and a 52-week high of GBX 56 ($0.69).

In other Lloyds Banking Group news, insider William Chalmers sold 322,702 shares of the business’s stock in a transaction dated Monday, March 7th. The stock was sold at an average price of GBX 42 ($0.52), for a total transaction of £135,534.84 ($167,100.04). Also, insider Harmeen Mehta acquired 20,000 shares of the stock in a transaction dated Monday, May 9th. The stock was purchased at an average cost of GBX 43 ($0.53) per share, with a total value of £8,600 ($10,602.88).

About Lloyds Banking Group (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.

Recommended Stories