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ii.co.ukSEP 22 min read$NWG

UK bank shares latest: upgrades for Lloyds and NatWest

Bank of America upgraded Lloyds (LLOY) and NatWest (NWG), citing strong deposit franchises and cost control. It raised price targets to 140p (27% upside) and 850p (24% upside), respectively. Barclays (BARC) was downgraded to Neutral with a 6% price target cut to 580p. All three banks face potential tax hikes and increased competition.

Original reporting
ii.co.uk
Published Sep 2, 2026, 12:13 PM UTC
Analysis
AlphAI AI DeskAI-generated
Added to AlphAI Sep 2, 2026, 9:35 PM UTC. Informational, not investment advice.
How this was made
AlphAI summarizes source reporting and applies a structured AI analysis for relevance, timing, sentiment and ticker impact. Always verify material claims with the original publisher.
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UK bank shares latest: upgrades for Lloyds and NatWest — source image
Source · ii.co.uk
Decision brief

The 30-second read

$NWGBullishMed
01

Why it matters

Analyst upgrades provide fresh price target revisions, offering actionable insight for traders.

02

Market read

Upgrades suggest near-term upside for Lloyds and NatWest, while highlighting sector risks.

03

What to watch

Barclays downgrade and broader sector valuation multiples may limit gains.

Relevance 7/10Novelty 7/10Timing: today

Background

Bank of America upgraded Lloyds and NatWest, while downgrading Barclays, citing competitive pressures and cost risks.

Company-level read

Ticker impact

$NWGBullishHigh confidence
Context

Bank of America raised NatWest price target by 6% to 850p, implying 24% upside.

Expected impact

NatWest could move up toward the new target in the short term.

Evidence & confidence

Upgrade based on solid earnings outlook and deposit strength.

Market effects

Sector

Upgrades highlight resilience of UK banks amid competition and tax concerns.

Regional

Positive bias for UK banking sector in London market.

Global

Limited to UK equities; modest effect on global banking sentiment.

Counterpoint

What could challenge this read

Potential cost pressures and tax hikes could offset upside, making upgrades premature.

Key entities

  • Analyst
    Bank of America

    Provided upgrades and price target changes for UK banks.

  • Company
    Lloyds Banking Group

    Received upgrade and higher price target.

  • Company
    NatWest Group

    Received upgrade and higher price target.

Read at source← All news

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