Lloyds Banking Group (LON:LLOY) Given New GBX 123 Price Target at Citigroup

Key Points

• Citigroup raised its price target on Lloyds to GBX 123 (from GBX 114) and maintained a "buy" rating, implying roughly a 25% upside from the prior close.
• Lloyds reported Q1 beats with GBX 2.40 EPS, GBX 478.5bn revenue and a 24.5% net margin, and ongoing share buyback cancellations (12.14m and 31.15m) are reducing share count and supporting EPS and capital returns.
• Operational and regulatory risks remain material — the bank disclosed an IT glitch affecting 500k+ customers and faces high FCA complaint levels that could drive remediation costs and reputational pressure.

Lloyds Banking Group (LON:LLOY - Get Free Report) had its price objective boosted by research analysts at Citigroup from GBX 114 to GBX 123 in a report released on Thursday,London Stock Exchange reports. The firm currently has a "buy" rating on the financial services provider's stock. Citigroup's price objective would indicate a potential upside of 24.97% from the stock's previous close.

Several other research firms have also recently weighed in on LLOY. Jefferies Financial Group reaffirmed a "buy" rating and set a GBX 125 target price on shares of Lloyds Banking Group in a research note on Wednesday. UBS Group restated a "neutral" rating and issued a GBX 103 target price on shares of Lloyds Banking Group in a report on Friday, January 23rd. Shore Capital Group restated a "sell" rating on shares of Lloyds Banking Group in a report on Thursday, April 2nd. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Lloyds Banking Group to GBX 125 and set a "buy" rating for the company in a report on Tuesday, February 3rd. Finally, Barclays boosted their price target on shares of Lloyds Banking Group from GBX 100 to GBX 120 and gave the company an "overweight" rating in a report on Wednesday, January 7th. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of GBX 112.33.

Lloyds Banking Group Trading Up 1.4%

Shares of LLOY stock opened at GBX 98.42 on Thursday. Lloyds Banking Group has a 12 month low of GBX 69.70 and a 12 month high of GBX 114.60. The stock has a market cap of £57.60 billion, a P/E ratio of 14.26, a P/E/G ratio of 1.84 and a beta of 0.94. The company has a 50 day simple moving average of GBX 98.23 and a two-hundred day simple moving average of GBX 96.92.

Lloyds Banking Group (LON:LLOY - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The financial services provider reported GBX 2.40 earnings per share (EPS) for the quarter. The firm had revenue of GBX 478.50 billion during the quarter. Lloyds Banking Group had a net margin of 24.49% and a return on equity of 9.93%. As a group, equities analysts forecast that Lloyds Banking Group will post 7.3199528 earnings per share for the current year.

Key Headlines Impacting Lloyds Banking Group

Here are the key news stories impacting Lloyds Banking Group this week:

• Positive Sentiment: Q1 results beat estimates — Lloyds reported GBX 2.40 EPS, GBX 478.5bn revenue, a 24.5% net margin and 9.93% ROE, and reiterated 2026 guidance, supporting earnings momentum and investor confidence. Read More.
• Positive Sentiment: Active buyback — Lloyds has continued cancelling repurchased shares (12.14m on Apr 28 and a further 31.15m on Apr 29), reducing share count and supporting EPS and capital returns. Read More. Read More.
• Positive Sentiment: Broker support — Jefferies reaffirmed a "buy" rating with a GBX 125 price target, underpinning demand from institutional investors. Read More.
• Neutral Sentiment: Funding/investment activity — Lloyds launched a landmark £1.4bn retail bonds offer, a funding move that is neutral overall but signals continued access to capital markets. Read More.
• Negative Sentiment: IT/customer-service issues — Lloyds disclosed further customers affected by an IT glitch (reports say 500k+ customers may be impacted and an extra 80,500 identified), and is making goodwill payments; this raises operational and potential remediation costs. Read More.
• Negative Sentiment: Regulatory/complaints pressure — Coverage notes Lloyds has among the highest FCA complaint levels and industry fines/payments, highlighting continued supervisory risk. Read More.
• Negative Sentiment: Reputational & political risk — Media stories about profits tied to geopolitical issues and Lloyds' warning about potential industry "bank tax" or cash grabs increase policy and reputational uncertainty that could pressure multiples. Read More. Read More.

About Lloyds Banking Group

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.

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