LONDON (SHARECAST) - Investec says that the news of another regulatory fine at Lloyds should only have a little impact, seeing as though the banking group still has a lot of mis-selling issues hanging over its head. The broker has maintained its 'hold' rating and 36p target price for the stock.
He said: "The cost of redress for Lloyds’s market-leading role in the mis-selling of financial products over the past two decades – e.g. pensions, endowment mortgages and PPI to mention just a few - will dwarf any fresh regulatory fine, alongside the gaping hole left in the Other Income line by lost PPI revenues that it is unable to fill."
Nomura has reiterated its 'buy' rating and 2,220p target price for Whitbread, saying that its second-quarter trading statement shows 'solid trading' at Premier Inn and a 'strong performance' in pubs/restaurants and Costa.
"We believe it offers compelling value for a stock with impressive roll-out potential, strong asset backing and impressive trading momentum."
Supermarket group Morrisons is trading at an 'unjustified' discount to its peers, according to Jefferies which was maintained its 'buy' rating and 350p target price on the stock after the firm's strong set of interim results.
Morrisons is trading at nine times prospective earnings which equates to a 10% discount to its UK supermarket peers and a 20% discount to the pan-European sector. "This ignores industry leading returns, self-help opportunities, lower leverage and higher property ownership."
LONDON (SHARECAST) - Investec says that the news of another regulatory fine at Lloyds should only have a little impact, seeing as though the banking group still has a lot of mis-selling issues hanging over its head. The broker has maintained its 'hold' rating and 36p target price for the stock.
