Lloyds Banking Group PLC
LLOY: XLON (GBR)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
GBX 88.00 | Jdlnlg | Tjylqzkrj |
Good Fourth Quarter for Lloyds, but Lower NIM Guidance in Focus
Narrow-moat Lloyds reported fourth-quarter underlying profits of GBP 1,973 million ahead of consensus expectations of GBP 1,847 million. Despite these good results, focus revolved around lower net interest margin guidance for 2023. We maintain our fair value estimate of GBX 77 per share.