BofA analyst Rohith Chandra-Rajan downgraded Lloyds Banking to Neutral from Buy with a price target of 52 GBp, down from 59 GBp. The analyst says the bank is the most exposed to the recently announced review of motor finance lending by the Financial Conduct Authority. Lloyds’ margins may remain under pressure and there is risk that the Q4 capital distribution is below consensus, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on LYG:
- FTSE-100 Listed Lloyds: BofA’s Top U.K. Banking Pick for 2024
- Global banks cut over 60,000 positions in 2023, FT reports
- Redburn Atlantic gets more bullish on Lloyds Banking, upgrades shares
- Lloyds Banking upgraded to Overweight from Equal Weight at Morgan Stanley
- Lloyds Banking price target lowered to 65 GBp from 67 GBp at Barclays
