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Pin to quick picksLloyds Share News (LLOY)

Share Price Information for Lloyds (LLOY)

London Stock Exchange
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Share Price: 52.18
Bid: 52.26
Ask: 52.30
Change: 0.12 (0.23%)
Spread: 0.04 (0.077%)
Open: 52.38
High: 52.90
Low: 52.18
Prev. Close: 52.06
LLOY Live PriceLast checked at -

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Broker snap: RBS downgrades Lloyds from buy to hold

Fri, 29th Jul 2011 11:30

RBS has downgraded UK lending giant Lloyds Banking Group from buy to hold, saying that there appears to be a lack of catalysts for the shares in the near-term."Lloyds [return on equity] recovery story is rapidly becoming a six-year journey. Given what looks to us like an overambitious top-line strategy, a tough economic backdrop, regulatory uncertainty and limited repatriation of capital until 2015, we see little potential for the shares to achieve a sustainable re-rating in the next 12 months," said analyst Asheefa Sarangi and Ian Smillie.The broker notes that Lloyds recently said that it intends to focus on other operating income (OOI) as its main top-line growth through to FY14, but "given that we expect rates to remain 'lower for longer', we do not see top-line growth picking up until FY13."RBS thinks that the full delivery of the Lloyds investment case is unlikely to unfold before 2015, and slashes its earnings forecasts for FY11-13 by 48%, 29% and 29%, respectively. "The cuts are primarily driven by our expectation of sizeable one-off items and lower revenues as Lloyds' OOI-driven strategy struggles to materialise and operating conditions remain unsupportive."As such, the broker downgrades its rating and cuts the target price by over 40% to 47p, from 80p previously.Shares in Lloyds dropped 3.2% to 43.57p at 11:29 on Friday morning.BC
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Lloyds to scrap mobile bank branches as moves towards online banking

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25 Jan 2024 14:41

Lloyds Banking Group to cut 1,600 jobs across branch network

(Sharecast News) - Lloyds Banking Group said on Thursday that it will cut around 1,600 jobs across branches as it continues to shift its focus to online banking.

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25 Jan 2024 10:36

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25 Jan 2024 10:05

Bank of England says 'ring fencing' capital rules for retail banks need no major overhaul

LONDON, Jan 25 (Reuters) - The Bank of England said on Thursday that its rules requiring banks to "ring fence" their retail arms with bespoke buffers of capital have worked "satisfactorily" with no major overhaul needed.

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23 Jan 2024 12:37

UK Chancellor Hunt meets top UK bank heads over plans to boost City

(Alliance News) - Jeremy Hunt has met the UK's biggest banks as part of efforts among the government to boost interest in the City.

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23 Jan 2024 09:21

LONDON BROKER RATINGS: HSBC cuts Compass; Berenberg lowers Victrex

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning and Monday:

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22 Jan 2024 08:34

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(Alliance News) - Stock prices in London opened higher on Monday, propelled by gains on Wall Street at the end of last week.

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18 Jan 2024 14:33

Britain's finance minister Hunt to quiz bank bosses on UK lending

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17 Jan 2024 12:00

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15 Jan 2024 16:57

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11 Jan 2024 17:03

M&S shares, Wall Street sell-off drag FTSE lower

U.S. inflation data sparks selloff

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UK finance watchdog probes possible motor finance misconduct

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TOP NEWS: Big Yellow rent hike saves revenue from decreased occupancy

(Alliance News) - Big Yellow Group PLC on Thursday said that revenue and lettable area had increased despite occupancy dropping during the "seasonally weaker third quarter".

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