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Robert LauzonLloyds Banking GroupLLOY.LWEAK BUYNov 29, 2019

European banks are becoming more stable. It has had a good bounce as a hard Brexit is looking less likely. This is the best UK bank as it trades around book value. He would complement this along with a large US bank for growth and a Canadian bank for the dividend. Yield 3.6% plus an annual special premium.

Robert Lauzon

Unknown

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$0.63

Stock price when the opinion was issued

$55.68

As of Jun 24, 2024. Market Open.

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TRADE

It's had a good run the past year, but have they learned their lesson? The UK economy is not in great shape. Is a trade, not a buy.

DON'T BUY

All banks have been clobbered. He'd rather buy a Canadian bank or MS. The UK housing market is a question mark for 12 months. Lloyds will bear loan losses heavier than its peers.

DON'T BUY

He doesn't recommend any European or UK banks. They were hoping to expand beyond mortgages (where they led) to investment products, personal lines of credit and small business loans. It's unclear they succeeded. There are a lot of banks in the UK and it's difficult to stand out. Also, Lloyds faces competition from the Americans who don't have a legacy loan book. Also, more of the UK/Euro market is moving to corporate bonds and away from whole loans. Lloyds is more of a personal lender, though.

HOLD

European banks have been feeling massive pain due to near-zero interest rates. If Brexit is finally resolved, it should help the UK pound and banks. Lloyd's is in pretty good shape. Hang onto it.

WEAK BUY

Brexit impacts? The Brexit overhand is likely already priced into UK equities. Lloyds tend to be a very domestic based bank, so if the economy lags there it will get hurt more than more international banks. Overtime, taking in a longer time view, you could probably buy here, but he would prefer a more international bank.

WATCH

Has been badly beaten up recently. Has been watching it for 10 years. If Brexit happens, these are the names that will be sold at a discount and could be a good chance to snap up.

DON'T BUY

A UK retail bank. The entire sector is extremely cheap, or with interest rates going negative, they can't pass it on. One of the issues is whether BREXIT will happen or not. He prefers other banks. (Analysts’ price target is $68.81)

HOLD

It's raising its dividend. This is exposed to the UK, so if you're negative about the UK, don't buy this. But if you own this and like the dividend, then stick with it. Once Brexit is sorted out, maybe the negative sentiment about the UK economy will dissipate.

DON'T BUY

ING vs. Lloyd's Got into trouble in financial crisis. UK-based bank, and the UK is in for a rough ride with Brexit. He'd avoid it. (Analysts’ price target is $74.21)

WEAK BUY

Lloyds vs. ING Bank among European banks Loves and owns ING. Their capital ratios look great. The Dutch government fined them in the last quarter. All Euro banks in the past were bailed out by government, but ING has come back in gangbusters. He prefers ING to Lloyds. Lloyds still has the Brexit overhang. All European banks are now cheap (book value, PE). Now is a buying opportunity both stocks.

BUY

He likes the European banks, and this one's in the U.K. Rising rates are a tailwind. They're years ahead of their European peers.

DON'T BUY

U.S. interest rates are rising, so European rates will follow--this will benefit financials with higher profits. He owns some European banks. There is upside with Lloyds. It has cleaned up its mess. If you're underwater here, you will be fine in the long run. You can buy it now and hold it.

TOP PICK

Really, really cheap and has a great yield of 5.3%. One of the best capitalized banks in all of Europe. They got pounded in this whole BREXIT thing. Have come up a little since then, but is still dirt cheap. Trading at about 7.7X multiple, which is cheaper than the US banks and cheaper than anything else. They are basically a capital return story. The yield is going to stay there or go higher. Thinks there is going to be a lot of upside.

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Stockchase, in its reporting on what has been discussed by individuals on business television programs (in particular Business News Network), neither recommends nor promotes any investment strategies.

We paraphrase the experts by hand, we watch the shows and write down what we understood from the experts’ comments. We are human and can make mistakes, help us fix any errors. If you see something that you know is not right or if there is a problem with the site, feel free to email us at : [email protected].

Robert LauzonLloyds Banking GroupLLOY.LWEAK BUYNov 29, 2019

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