JPMorgan Chase & Co. Cuts Lloyds Banking Group (LON:LLOY) Price Target to GBX 121

Key Points

• JPMorgan Chase cut its price target for Lloyds from GBX 171 to GBX 121 and maintained a "neutral" rating, with the new target implying about a 21.1% upside from the prior close.
• Analyst consensus is a "Hold" with an average price target of GBX 108.22; recent coverage is mixed (five Buy, three Hold, one Sell).
• Market snapshot: Lloyds trades around GBX 99.90, has a market cap of £58.46bn, a P/E of 14.48, and reported quarterly EPS of GBX 7 (ROE 9.93%).

Lloyds Banking Group (LON:LLOY - Get Free Report) had its price objective cut by JPMorgan Chase & Co. from GBX 171 to GBX 121 in a report released on Monday,Digital Look reports. The brokerage currently has a "neutral" rating on the financial services provider's stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 21.12% from the company's previous close.

A number of other research analysts have also recently commented on the stock. Citigroup boosted their target price on shares of Lloyds Banking Group from GBX 98 to GBX 106 and gave the stock a "neutral" rating in a research report on Monday, February 2nd. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Lloyds Banking Group to GBX 125 and set a "buy" rating on the stock in a research report on Tuesday, February 3rd. Barclays lifted their price target on shares of Lloyds Banking Group from GBX 100 to GBX 120 and gave the stock an "overweight" rating in a research note on Wednesday, January 7th. UBS Group restated a "neutral" rating and issued a GBX 103 price target on shares of Lloyds Banking Group in a research note on Friday, January 23rd. Finally, Shore Capital Group restated a "sell" rating on shares of Lloyds Banking Group in a research note on Thursday, April 2nd. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of GBX 108.22.

Lloyds Banking Group Trading Down 1.0%

LON LLOY opened at GBX 99.90 on Monday. The company's fifty day simple moving average is GBX 99.69 and its 200-day simple moving average is GBX 95.46. Lloyds Banking Group has a 52 week low of GBX 66.94 and a 52 week high of GBX 114.60. The stock has a market cap of £58.46 billion, a P/E ratio of 14.48, a PEG ratio of 1.84 and a beta of 0.94.

Lloyds Banking Group (LON:LLOY - Get Free Report) last posted its earnings results on Thursday, January 29th. The financial services provider reported GBX 7 EPS for the quarter. Lloyds Banking Group had a net margin of 24.49% and a return on equity of 9.93%. On average, research analysts expect that Lloyds Banking Group will post 7.3199528 EPS for the current fiscal year.

Lloyds Banking Group Company Profile

We are the largest UK retail and commercial financial services provider with over 25 million customers and a presence in nearly every community. The Group's main business activities are retail and commercial banking, general insurance and long-term savings, provided through the largest branch network and digital bank in the UK, with well recognised brands including Lloyds Bank, Halifax, Bank of Scotland and Scottish Widows. Our shares are quoted on the London and New York stock exchanges and we are one of the largest companies in the FTSE 100 index.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.