Bank of America Securities analyst Perlie Mong maintained a Hold rating on Lloyds Banking today and set a price target of p73.00.
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Perlie Mong’s rating is based on a combination of factors that reflect Lloyds Banking’s current financial performance and market conditions. The bank reported a solid underlying profit before tax, which was significantly higher than market expectations, primarily due to reduced costs and lower impairments. Despite these positive aspects, the net interest income and other income were merely in line with expectations, and the net interest margin slightly missed the consensus.
Additionally, while Lloyds announced a dividend that exceeded expectations, there was no new information regarding its motor finance segment. The bank’s guidance remains unchanged, with key metrics such as net interest income and operating costs aligning closely with consensus estimates. Given these mixed signals—strong performance in some areas but in line or slightly below in others—Perlie Mong has opted for a Hold rating, suggesting that while the stock is stable, there may not be significant immediate upside potential.