The Company is a UK-based financial services group, whose businesses provide a range of banking and financial services in the UK and a limited number of locations overseas.
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Lloyds is the UK version of Bank of America in the United States. Lloyds will indeed come under pressure as the credit crisis in Europe spreads despite the fact that Lloyds has very little exposure to the sovereign debt crisis. Llloyds also has to deal with shedding some of its branches. Despite this, Lloyds is trading well below its book value and looks poised to make (by my estimates, not Wall Street's) $0.15-$0.20 next year. While that doesn't make this company cheap, it has a very good chance of surprising a lot of people in 2013. I'm going to place a limit buy at $2.32 and hope that fear-mongering takes this speculative play down that far. If there's any banking system in Europe worth buying, it'd be in the UK and Lloyds seems like the bank with the least surprise losses on the horizon.
TMFUltraLong