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Upgrade Alert for Lloyds Banking Group (LYG)

By Nick Russo

Lloyds Banking Group (NYSE:LYG) was upgraded from Neutral to Outperform at Macquarie today. The stock closed yesterday at $2.74 on volume of 48.5 million shares, above average daily volume of 4.0 million.

Lloyds Banking Group share prices have moved between a 52-week high of $5.65 and a 52-week low of $2.73 and closed yesterday at 0% above that low price at $2.74 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has advanced 0.6%.

Lloyds Banking Group has overhead space with shares priced $2.74, or 50.0% below the average consensus analyst price target of $5.48. The stock should run into initial resistance at its 50-day moving average (MA) of $3.99 and subsequent resistance at its 200-day MA of $4.35.

Lloyds Banking Group plc, through subsidiaries and associated companies, offers a range of banking and financial services. The Company provides retail banking, mortgages, pensions, asset management, insurance services, corporate banking, and treasury services.

SmarTrend is monitoring the recent change of momentum in Lloyds Banking Group. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Lloyds Banking Group in search of a potential trend change.

Keywords: analyst upgrades/downgrades lloyds banking group

Ticker(s): LYG