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Lloyds added to JPMorgan Cazenove’s European Best Equity Ideas Overweight List

JPMorgan's European Best Equity Ideas list summarises the bank’s EMEA Equity research team’s views and top picks, covering both strategy and sector contributions
Lloyds Bank ATMs
The US bank removed AstraZeneca, Melrose and Reckitt Benckiser from the Overweight List

Lloyds Banking Group PLC (LON:LLOY) has been added to JPMorgan Cazenove’s European Best Equity Ideas Overweight List, together with mid-cap airlines group Wizz Air PLC (LON:WIZZ).

The two stocks’ promotion came as the US bank removed drugmaker AstraZeneca PLC (LON:AZN), engineer Melrose PLC (LON:MRO), and consumer products group Reckitt Benckiser PLC (LON:RB.) from the same Overweight List, among a number of other European company moves.

READ: Lloyds, RBS and Barclays hung up on Brexit dilemma

Elsewhere, JPMorgan added blue-chip supermarkets giant Tesco PLC (LON:TSCO) and removed FTSE 100-listed DIY retailer Kingfisher PLC (LON:KGF) from its Underweight Ideas List, among a number of other European company moves.

The bank pointed out that the European Best Equity Ideas list summarises the bank’s EMEA Equity research team’s views and top picks, covering both strategy and sector contributions.

It said the stock ideas are consistent with its current published ratings and are filtered from the analyst recommendation stack.

The bank publishes its Best Ideas report once a month.

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