Goldman Sachs analyst Benjamin Caven-Roberts upgraded Lloyds Banking (LYG) to Buy from Neutral with a price target of 99 GBp, up from 87 GBp. The firm sees further share upside with “key clearing event” of the Supreme Court ruling now passed. With the bank confirming any changes to provisioning would unlikely be material, the market can now refocus its attention from motor finance to the core equity story for Lloyds, which is “compelling,” the analyst tells investors in a research note.
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