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Lloyds Banking upgraded to Outperform from Sector Perform at RBC Capital

RBC Capital upgraded Lloyds Banking (LYG) to Outperform from Sector Perform with an unchanged price target of 95 GBp. The the Supreme Court on Friday issued its motor finance judgement, concluding no liability for the banks in equity or tort, the analyst tells investors in a research note. The firm believes the ruling will likely be viewed positively by the market. It views the news as a “clearing event” for Lloyds.

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