The bank, Lloyds banking Group (LLOY.L) received a boost this morning, which may help stem the falls after yesterdays results release after an upgrade by JPMorgan. Lloyds was upgraded to overweight from neutral and JPmorgan says it sees further upside despite the recent lowered forecast released by Lloyds when releasing their results, saying the results “reflects a rebasing of expectations around legacy costs, net asset value growth and capital return”
JP Morgan now has Lloyds as their pick of the UK Banking sector and raised its target price for the company from 84p to 95p implying an upside of 17% on current prices.
The bank, Lloyds banking Group (LLOY.L) received a boost this morning, which may help stem the falls after yesterdays results release after an upgrade by JPMorgan. Lloyds was upgraded to overweight from neutral and JPmorgan says it sees further upside despite the recent lowered forecast released by Lloyds when releasing their results, saying the results “reflects a rebasing of expectations around legacy costs, net asset value growth and capital return”
JP Morgan now has Lloyds as their pick of the UK Banking sector and raised its target price for the company from 84p to 95p implying an upside of 17% on current prices.