Lloyds Share News (LLOY)

Investec has downgraded its recommendation for Lloyds Banking Group from 'hold' to 'sell' and left its target price at 50p following the bank's first-quarter results this week.Analyst Ian Gordon said that after an exceptionals-enhanced attributable profit of £1.5bn in the first three months of the year, Investec's forecasts for £0.2bn in the second quarter and just £0.1bn in both the third and the fourth "do appear deeply underwhelming!"Financial services group Legal & General is currently undervalued on all valuation metrics, according to Panmure Gordon which kept its 'buy' rating for the stock following a strong first-quarter result.While the stock is trading in line with the sector on 2013 forecasts, analyst Barrie Cornes said: "We believe that the shares are undervalued and that L&G is exceptionally well placed to capture profitable growth in the UK whilst continuing to grow exponentially overseas, particularly the low cost L&G Investment Management (LGIM) model."Another solid increase in profits is expected from Sainsbury when it reports its full-year report on May 8th, according to UBS which lifted its estimates for the supermarket giant on Thursday.The broker, which kept a 'buy' rating for the stock, lifted its full-year profit before tax estimate by 5.2% to £749m, ahead of the consensus forecast for £746m. "This represents a good outturn given industry demand conditions have remained depressed while key competitors have experienced profitability declines in the equivalent period," UBS said.BC