Morgan Stanley Remains Bullish on Lloyds Banking Group (LYG)

Lloyds Banking Group plc (NYSE:LYG) is one of the best affordable stocks to buy under $20. On October 17, Lloyds Banking Group plc (NYSE:LYG) received a rating update from Morgan Stanley analyst Alvaro Serrano, who reiterated a Buy rating on the stock with a price target of p100.

The rating update supports the analyst’s previous Buy rating on the stock with the same price target released on October 9, supported by factors associated with Lloyds Banking Group plc’s (NYSE:LYG) market positioning and its handling of potential financial uncertainties.

Serrano stated that despite the uncertainties regarding the FCA’s consultation paper on motor finance charges, Lloyds Banking Group plc’s (NYSE:LYG) preparation for potential additional provisions exhibited resilience. The proactive approach reflects a solid risk management strategy by the company that can help deal with future financial impacts.

Lloyds Banking Group plc (NYSE:LYG) operates as a financial services company providing banking and financial services. The company’s operations are divided into the following segments: Retail, Commercial Banking, Insurance and Wealth, and Other.

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Disclosure: None. This article is originally published at Insider Monkey.