This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Trade Parameters
Observations – For
Observations – Against
Bullish technical set-up with share bouncing off rising support. Share rallied on recent results which included no more PPI and improved financial targets. Back to health, profits and more importantly dividends. The Bank of England has raised UK interest rates which is good for banks net interest margin. Cleaner bank insulated from global issues and investment banking, although is exposed to UK housing market.
Consensus is very bullish with 80% brokers seeing upside potential from current levels. In fact consensus is looking for a rally to beyond our short-term trade objective, closer to 2017 highs.
Next Event: FY Results, 21 Feb;
Latest Broker 12-Month Consensus: 63% Buy, 11% Hold, 26% Sell (full breakdown on request)
Source: DowJones Newswires, Reuters News, Bloomberg or Company Press releases
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