Espirito finds no spirit in Lloyds Banking Group PLC (NYSE:LYG)

Posted by Peter Lauro August 21, 2013 0 Comment 1158 views

Espirito Santo Investment Bank Research analysts have reiterated their “sell” rating on Lloyds Banking Group PLC (NYSE:LYG) stock and have currently set a target-price of $0.92(GBX 59) on the stock. This is indicative of a 21.33% potential- downside from LYG’s previous close.

Latest trading session

In Tuesday’s trading, LYG stock was down 0.43%. The opening price of the shares was $4.56, which rose to an intraday high of $4.63 and closed at $4.61. More than 6.60 million shares exchanged hands in Tuesday’s trading session while the average volume of shares traded over 30 days was 2.45 million. The company has a market cap of $82.30 billion. The 52-weel low of the company is GBX 32.637 while the 52-week high is GBX 77.24. The 5-day moving average of the stock is GBX 37.64 while the 200-day moving average is GBX 31.98.

Analyst rating

Numerous other analysts have also weighed in on the company. HSBC analysts reiterated their “overweight” rating in the stock on 15 August and have now set the target price at $1.41(GBX 90). Santander analysts have

also reiterated their “buy” rating on the stock on 9 August and have now set a price target of $1.19(GBX 76) on the stock. Morgan Stanley analysts have upgraded their rating for the GBX stock from “equal weight” to “overweight” on 9 August and now have a $1.45(GBX93) price target on LYG stock which is up from the $1.09(GBX 70) that it stood at earlier.

Six analysts have assigned a “sell” rating on the stock, 9 have assigned a “hold” rating while 19 have assigned a “buy” rating. The average rating on LYG stock is currently a “hold”. Lloyds Banking Group PLC (NYSE:LYG) is a financial-services group. It provides a variety of financial and banking services, largely in the U.K to corporate and personal customers.

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