Insurance Technology Industry News

TMCNet:  Upgrade Alert for Lloyds Banking Group (LYG)

[January 09, 2013]

Upgrade Alert for Lloyds Banking Group (LYG)

Jan 09, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Lloyds Banking Group (NYSE:LYG) was upgraded from Neutral to Buy at UBS today. The stock closed yesterday at $3.33 on volume of 3.2 million shares, above average daily volume of 1.9 million. There is potential upside of 16.2% for shares of Lloyds Banking Group based on a current price of $3.33 and an average consensus analyst price target of $3.87. The stock should discover initial support at its 50-day moving average (MA) of $2.96 and subsequent support at its 200-day MA of $2.27.

Lloyds Banking Group plc, through subsidiaries and associated companies, offers a range of banking and financial services. The Company provides retail banking, mortgages, pensions, asset management, insurance services, corporate banking, and treasury services.

In the past 52 weeks, shares of Lloyds Banking Group have traded between a low of $1.52 and a high of $3.33 and closed yesterday at $3.33, which is 119% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.7% while the 50-day MA has advanced 1.5%.

SmarTrend recommended that subscribers consider buying shares of Lloyds Banking Group on August 15th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $1.99. Since that recommendation, shares of Lloyds Banking Group have risen 67.8%. We continue to monitor LYG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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