Lloyds Banking Group PLC
LLOY: XLON (GBR)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
GBX 45.00 | Gtknhk | Xjctzlyg |
Lloyds Earnings: Net Interest Income Guidance Increased Slightly, but Outlook Remains Complex
Narrow-moat Lloyds reported second-quarter underlying operating profit before tax of GBP 1.82 billion, down from GBP 1.91 billion a year ago. The performance was nevertheless decent as net interest income and other income more than offset higher operating expenses due to investments and inflation. We maintain our GBX 77 per-share fair value estimate and narrow economic moat rating.