Lloyds: shares boosted by Berenberg upgrade
(CercleFinance.com) - Shares in Lloyds Banking Group have risen by up to 1.
2% today after Berenberg says the British bank has "fallen out of favour," having upgraded its rating on the stock to "hold".
"Lloyds' darling status has largely faded," the German broker writes in a research note.
"Risks remain, including from Brexit and from the Bank of England's stress tests. However, with Lloyds' shares down by close to 12% year-to-date, the path to further absolute downside is less certain," it says.
Analysts are sticking to their target price of 60 pence.
Shares in Lloyds are trading up 0.8% at 60.1 pence on the London Stock Exchange today, in a flat British stockmarket.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
2% today after Berenberg says the British bank has "fallen out of favour," having upgraded its rating on the stock to "hold".
"Lloyds' darling status has largely faded," the German broker writes in a research note.
"Risks remain, including from Brexit and from the Bank of England's stress tests. However, with Lloyds' shares down by close to 12% year-to-date, the path to further absolute downside is less certain," it says.
Analysts are sticking to their target price of 60 pence.
Shares in Lloyds are trading up 0.8% at 60.1 pence on the London Stock Exchange today, in a flat British stockmarket.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.