Barclay’s stockbroking arm has upped its price targets for PLC () and PLC () citing the helpful background for UK banking generally.
Crunching a series of data points indicates momentum building in consumer activity, said Barclays, with recovering consumer spending and positive momentum in mortgage applications.
“There are also nascent signs of stabilisation in unsecured personal lending (albeit at subdued levels) while asset pricing remains stable, with March mortgage pricing down marginally following softening in February.”
Meanwhile, the record savings inflow continues and asset quality remains benign despite a temporary spike in corporate insolvencies in early-March.
Lloyds’ (overweight) share price target rises to 47p from 46p, while NatWest (equalweight) gets an upgrade to 200p from 180p.
Lloyds eased to 43.08p and NatWest to 197.2p in spite of the upgrades.
Read More: Lloyds Banking Group PLC and NatWest Group PLC share price targets raised