Today’s Rating: Credit Suisse Covers Lloyds Banking Group (LON:LLOY). What Is Next?

November 29, 2016 - By Michael Collier

Why Credit Suisse Gives Lloyds Banking Group (LON:LLOY) GBX 65.00 Price Target

In a a note sent to clients and investors on 29 November, Credit Suisse analyst just started coverage of Lloyds Banking Group (LON:LLOY) with “Neutral” rating. The price target is GBX 65.00.

Lloyds Banking Group PLC (LON:LLOY) Ratings Coverage

Out of 29 analysts covering Lloyds Banking Group PLC (LON:LLOY), 17 rate it a “Buy”, 4 “Sell”, while 8 “Hold”. This means 59% are positive. GBX 108 is the highest target while GBX 48 is the lowest. The GBX 71.58 average target is 24.16% above today’s (GBX 57.65) stock price. Lloyds Banking Group PLC has been the topic of 240 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The firm has “Outperform” rating by RBC Capital Markets given on Wednesday, August 26. The stock of Lloyds Banking Group PLC (LON:LLOY) earned “Buy” rating by Nomura on Wednesday, November 18. The stock has “Hold” rating given by Deutsche Bank on Monday, September 5. The stock of Lloyds Banking Group PLC (LON:LLOY) has “Underperform” rating given on Monday, May 9 by BNP Paribas. Barclays Capital maintained Lloyds Banking Group PLC (LON:LLOY) on Thursday, October 27 with “Equal Weight” rating. Barclays Capital maintained Lloyds Banking Group PLC (LON:LLOY) on Monday, September 14 with “Overweight” rating. On Thursday, August 11 the stock rating was maintained by JP Morgan with “Neutral”. The firm has “Underperform” rating by Bernstein given on Wednesday, February 10. The rating was maintained by Bernstein with “Market Perform” on Sunday, October 4. The company was maintained on Monday, August 8 by BNP Paribas.

The stock decreased 0.37% or GBX 0.21 on November 29, hitting GBX 57.65. About 136.54 million shares traded hands. Lloyds Banking Group PLC (LON:LLOY) has declined 13.73% since April 29, 2016 and is downtrending. It has underperformed by 18.99% the S&P500.

LLOYDS BANKING GROUP plc provides financial services to individual and business clients in the United Kingdom but also overseas. The company has a market cap of 41.15 billion GBP. The Company’s business activities include retail and commercial banking, long-term savings, protection and investment. It has a 43.97 P/E ratio. It operates through its divisions, including Retail, Commercial Banking, Consumer Finance and Insurance.

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