Lloyds Banking initiated with a Neutral at Goldman Sachs

Goldman Sachs initiated coverage of Lloyds Banking with a Neutral rating and 70 GBp price target The firm expects the headwind from mortgage refinancing to persist until early 2026. Several risks weigh on Lloyds’ medium-term outlook, including the potential for further remediation charges relating to the FCA review into historical motor commissions, the analyst tells investors in a research note.