How high can the Lloyds share price go? Here are the latest broker forecasts
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The Lloyds Banking Group (LSE: LLOY) share price has gained 51% year to date. And patient shareholders have seen their investments more than treble over the past five years.
With the forecast price-to-earnings (P/E) ratio a bit over 12, some might think the undervaluation is now out. But City analysts don’t seem to share that thought. They’ve been upping their price targets yet again in recent weeks.
Growing optimism
As I write early on Wednesday (17 September), Lloyds shares are selling at 83p. And at the beginning of August, RBC Capital Markets reiterated a price target of 95p. That’s 14% ahead, and would push the P/E multiple to about 14.
That’s close to the long-term…
