Lloyds Banking upgraded to Outperform from Neutral at Exane BNP Paribas

Exane BNP Paribas upgraded Lloyds Banking (LYG) to Outperform from Neutral with a 72 GBp price target. The analyst replaced NatWest Group (NWG) with Lloyds are the firm’s top pick in UK banks. Confirmation of a Labour party majority add visibility for equity investors, the analyst tells investors in a research note. The firm believes the banks will largely stay out of the political headlines in the coming weeks, which is welcome. The focus can now shift back to improving operating trends, according to Exane.