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Lloyds Banking Group and rivals have tailwind as economic outlook improves,


Shore Capital has buy recommendations on Barclays, Lloyds Banking and Standard Chartered

UK banks are not as outstandingly cheap as the middle of last year, but they still offer decent value, say analysts at Shore Capital.

Confidence in the outlook is improving given the economic benefits of the successful vaccine rollout (notably in the UK), ongoing government support to customers and steepening yield curves, but share prices are now trading very close to the broker’s current fair values.

In addition, given the highly cyclical nature of bank earnings forecast risk is likely still skewed to the upside, which could help to push fair values higher in due course.

The broker has buy recommendations on (), Lloyds Banking PLC () and () along with ‘Hold’ recommendations on PLC (), PLC ()  and VMUK () .

First-quarter results to end-March start with on April 27, followed by Lloyds on April 28, NatWest and Standard Chartered on the 29th and finishing with Barclays the day after.

Virgin Money UK is scheduled to report interim results on 5 May.



Read More: Lloyds Banking Group and rivals have tailwind as economic outlook improves,

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