1514 GMT - Investors avoiding U.K. domestic banks should reconsider given their expanding market value and continued outperformance, Jefferies says in research note following the annual results of Lloyds Banking Group, NatWest and Barclays. "We may be at the foothills of a marked reappraisal of [cost of equity]. Predictability, not upgrades--although we are still getting those--is the watch word," analyst Jonathan Pierce and associate Priya Rathod write. There is a lot to digest in the results but so far there are few surprises, which is refreshing, they say. Lloyds has risen 25% year to date while Barclays and NatWest are both up around 12%. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
February 25, 2025 10:14 ET (15:14 GMT)
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