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LLOY shares – bad news if if house prices fall
Lloyds Banking Group (LLOY) / Financials
The fact the LLOY is a 100% UK bank could be seen as a positive – it’s not about to up sticks and move to Paris. It does, however, hold the largest mortgage book of all the UK lenders which is the sort of thing likely to set alarm bells ringing in the event of a Brexit. In that instance, the outlook for house prices will be making anyone in the mortgage game a little nervous. With all this potentially weighing on sentiment towards LLOY, it’s a stock worth watching for its rebound potential in the event of a ‘stay’ vote.
LLOY, 4-year chart (Source: IT Finance)
Consensus Roundup
Bullish: Jefferies, Buy, Target 108p, +60% (11 May)
Consensus: Target 82p, +22% (17 May)
Bearish: Bernstein, Underperform, Target 55p, -18% (4 May)
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Prepared by Michael van Dulken, Head of Research
