Lloyds Banking Group (LLOY)

Down
Share Price:
115.20p
Market Cap:
£66,924m
Change Today:
-0.100p
Sector:
Banking

Shore Capital downgrades Lloyds Banking Group to 'sell' after strong run

By Michele Maatouk

Date: Monday 02 Feb 2026

LONDON (ShareCast) - (Sharecast News) - Shore Capital downgraded Lloyds Banking Group to 'sell' from 'hold' on Monday following a strong run that has left the shares fully valued, but lifted the price target to 91p from 84p.
The broker said Lloyds' full-year results showed better-than-expected profitability primarily due to a lower-than-expected impairment charge in the fourth quarter, making this a "relatively low-quality" beat.

Nevertheless, return on tangible equity guidance for FY26 was upgraded to more than 16% from more than 15%, which Shore thinks the company will "comfortably" achieve.

However, it said Lloyds may struggle to sustain the ROTE in the long-term "given the competitive pressure and risk of further taxation that such supernormal returns may eventually attract".

At 1240 GMT, the shares were up 0.6% at 109.60p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

LLOY Market Data

Currency UK Pounds
Price 115.20p
Change Today -0.100p
52 Week High 117.10p
52 Week Low 78.50p
Volume 50,451,672
Shares Issued 58,094m
Market Cap £66,924m

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