NatWest Preferred Over Lloyds Due to Motor Finance Exposure -- Market Talk

Dow Jones11-04

1120 GMT - NatWest is more geared to falling interest rates than peer Lloyds Banking Group but isn't as exposed to the motor finance issue, Keefe, Bruyette & Woods say in a research note. The broker changes its preference and names lender NatWest as its top pick after its strong third-quarter results, replacing Lloyds. Lloyds is exposed to a highly uncertain liability from a probe into commission agreements in the motor finance sector. This could amount to between 3% and 15% of Lloyds' market capitalization, with limited clarity before mid-2025, analyst Edward Firth estimates. Besides this, KBW remains positive on incumbent U.K. domestic retail banks. It raises its rating on NatWest to outperform from market perform and its target price to 440 pence from 350 pence. Shares rise 2.9% to 386.3 pence. (elena.vardon@wsj.com)

(END) Dow Jones Newswires

November 04, 2024 06:28 ET (11:28 GMT)

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This could amount to between 3% and 15% of Lloyds' market capitalization, with limited clarity before mid-2025, analyst Edward Firth estimates. Besides this, KBW remains positive on incumbent U.K. domestic retail banks. It raises its rating on NatWest to outperform from market perform and its target price to 440 pence from 350 pence. Shares rise 2.9% to 386.3 pence. 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The broker ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LYG","symbol_name":"劳埃德","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2480430651","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2480430651","pubTimestamp":1730719680,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"1120 GMT - NatWest is more geared to falling interest rates than peer Lloyds Banking Group but isn't as exposed to the motor finance issue, Keefe, Bruyette & Woods say in a research note. The broker changes its preference and names lender NatWest as its top pick after its strong third-quarter results, replacing Lloyds. Lloyds is exposed to a highly uncertain liability from a probe into commission agreements in the motor finance sector. This could amount to between 3% and 15% of Lloyds' market capitalization, with limited clarity before mid-2025, analyst Edward Firth estimates. Besides this, KBW remains positive on incumbent U.K. domestic retail banks. It raises its rating on NatWest to outperform from market perform and its target price to 440 pence from 350 pence. Shares rise 2.9% to 386.3 pence. 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