Royal Bank Of Canada Increases Lloyds Banking Group (LON:LLOY) Price Target to GBX 124

Lloyds Banking Group (LON:LLOY) had its price objective upped by stock analysts at Royal Bank Of Canada from GBX 120 to GBX 124 in a research report issued to clients and investors on Friday,London Stock Exchange reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Royal Bank Of Canada’s price objective points to a potential upside of 8.25% from the stock’s current price.

A number of other equities analysts have also recently commented on the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 125 price target on shares of Lloyds Banking Group in a report on Friday. JPMorgan Chase & Co. decreased their target price on Lloyds Banking Group from GBX 171 to GBX 121 and set a “neutral” rating on the stock in a research report on Monday, April 13th. Berenberg Bank reissued a “hold” rating and set a GBX 117 target price on shares of Lloyds Banking Group in a research note on Wednesday, June 24th. Citigroup increased their target price on shares of Lloyds Banking Group from GBX 114 to GBX 123 and gave the stock a “buy” rating in a report on Thursday, April 30th. Finally, Jefferies Financial Group restated a “buy” rating and issued a GBX 125 price target on shares of Lloyds Banking Group in a research note on Friday. Six research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lloyds Banking Group currently has an average rating of “Moderate Buy” and a consensus target price of GBX 114.20.

Lloyds Banking Group Price Performance

LON:LLOY traded down GBX 1.10 during mid-day trading on Friday, reaching GBX 114.55. The stock had a trading volume of 579,072,250 shares, compared to its average volume of 181,568,172. The stock has a 50-day simple moving average of GBX 107.48 and a two-hundred day simple moving average of GBX 102.63. The stock has a market capitalization of £66.63 billion, a PE ratio of 15.07, a P/E/G ratio of 1.84 and a beta of 0.91. Lloyds Banking Group has a 12 month low of GBX 74.43 and a 12 month high of GBX 117.70.

Lloyds Banking Group (LON:LLOY) last released its earnings results on Thursday, July 30th. The financial services provider reported GBX 4.80 earnings per share for the quarter. Lloyds Banking Group had a return on equity of 10.75% and a net margin of 25.91%. Equities analysts expect that Lloyds Banking Group will post 7.3199528 EPS for the current year.

Key Stories Impacting Lloyds Banking Group

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

• Positive Sentiment: First-half profit reportedly rose 23% to approximately £4.3 billion, strengthening confidence in Lloyds’ earnings outlook. Management also unveiled plans to cut a further £2 billion in costs, with artificial intelligence expected to play a significant role in improving efficiency. Lloyds Bank to cut £2bn in costs as part of AI-powered strategy
• Positive Sentiment: The new strategy targets a return on tangible equity above 18% in 2028 and approximately 20% by 2030. Achieving these targets would support long-term profitability and potentially improve shareholder returns. Lloyds Banking Group Mobilizes 800 AI Models to Slash Costs
• Positive Sentiment: Lloyds launched a share buyback programme of up to £1 billion and continued repurchasing and cancelling shares under its existing programme. Buybacks can enhance earnings per share and signal management’s confidence in the bank’s capital position. Lloyds Banking Group Launches £1 Billion Share Buyback Programme
• Positive Sentiment: Deutsche Bank and Jefferies reaffirmed “buy” ratings with GBX 125 price targets, providing additional analyst support. Broker views on Lloyds Banking Group
• Neutral Sentiment: Lloyds and Lloyds Bank updated documentation for their £60 billion EMTN programme with an FCA-approved supplement. The move is routine and supports future debt issuance rather than directly changing earnings. Lloyds Updates £60bn EMTN Documentation
• Negative Sentiment: Bank of America maintained a “hold” rating, saying Lloyds’ valuation is relatively full despite solid results, which could constrain upside from current levels. Lloyds Solid Results but Full Valuation Keeps Risk-Reward Balanced
• Negative Sentiment: Reports of renewed calls for higher taxes on banks add a policy risk to future distributions and profitability, although no immediate tax change was announced.

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.