Update shared on 20 Nov 2025
Lloyds Banking Group’s analyst price target remains steady, as analysts see only minor changes in underlying discount rate and valuation assumptions. This has resulted in no significant adjustment to the fair value estimate.
What's in the News
- Lloyds Banking Group completed the repurchase of a total of 1.8 billion shares, representing 2.98 percent of outstanding shares for £1.4 billion, as part of the buyback program announced in February 2025.
- The company raised its earnings guidance for the fiscal year 2025 and now expects net interest income to be approximately GBP 13.6 billion, which is slightly ahead of earlier forecasts.
- Lloyds is considering ending its wealth management partnership with Schroders and taking full control of Schroders Personal Wealth. The goal is to expand its wealth services for affluent customers.
- Lloyds became the first UK financial services benefactor of MITRE ATT&CK by strengthening its cyber defense strategy and leveraging the popular open-source threat intelligence framework.
Valuation Changes
- Fair Value Estimate remains unchanged at 0.94, indicating analysts see stability in the company’s valuation basis.
- Discount Rate has risen slightly from 8.21 percent to 8.45 percent. This reflects minor adjustments in the risk assessment.
- Revenue Growth Forecast is stable at 8.43 percent, signaling no meaningful change in expectations for future income growth.
- Net Profit Margin remains virtually flat at 28.07 percent. This suggests continued operational efficiency in profit generation.
- Future P/E Ratio has increased moderately from 9.86x to 10.45x, implying a mild shift in market expectations of future earnings.
Disclaimer
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