Lloyds Banking Group (LLOY) Price Target Cut to GBX 55

Lloyds Banking Group (LON:LLOY) had its price target dropped by Goldman Sachs Group from GBX 56 ($0.73) to GBX 55 ($0.72) in a research note issued on Wednesday, September 12th. The firm currently has a “sell” rating on the financial services provider’s stock. Goldman Sachs Group’s target price would suggest a potential downside of 6.67% from the company’s current price.

Several other analysts have also commented on the stock. Citigroup reissued a “neutral” rating on shares of Lloyds Banking Group in a research report on Wednesday, September 5th. Berenberg Bank raised shares of Lloyds Banking Group to a “hold” rating and set a GBX 60 ($0.78) price target for the company in a research report on Tuesday, September 4th. JPMorgan Chase & Co. set a GBX 85 ($1.11) price target on shares of Lloyds Banking Group and gave the company a “buy” rating in a research report on Wednesday, August 1st. Barclays reissued an “overweight” rating and set a GBX 90 ($1.17) price target on shares of Lloyds Banking Group in a research report on Thursday, September 6th. Finally, HSBC cut their price objective on shares of Lloyds Banking Group from GBX 72 ($0.94) to GBX 68 ($0.89) and set a “hold” rating on the stock in a report on Friday, August 17th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. Lloyds Banking Group presently has a consensus rating of “Buy” and a consensus price target of GBX 76.10 ($0.99).

LON:LLOY remained flat at $GBX 58.93 ($0.77) during mid-day trading on Wednesday. 276,962,014 shares of the company were exchanged, compared to its average volume of 151,650,000. Lloyds Banking Group has a 52 week low of GBX 61.81 ($0.81) and a 52 week high of GBX 73.58 ($0.96).

In related news, insider Juan Colombás sold 225,567 shares of the stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of GBX 60 ($0.78), for a total value of £135,340.20 ($176,293.08).

About Lloyds Banking Group

Lloyds Banking Group plc provides banking and financial services under the Lloyds Bank, Halifax, Bank of Scotland, and Scottish Widows brands in the United Kingdom and internationally. The company operates through three segments: Retail, Commercial Banking, and Insurance and Wealth. The Retail segment offers a range of financial service products, including current accounts, savings accounts, mortgages, motor finance, and unsecured consumer lending products to personal and small business customers.

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Analyst Recommendations for Lloyds Banking Group (LON:LLOY)

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