Could the Lloyds share price reach 60p in 2024?

As I write, the Lloyds share price sits at 53.3p. That’s a 10.9% gain from its opening price of 48.1p in 2024. But what could the remainder of the year have in store for the stock? Lloyds has been a serial underperformer in the last five years. During that time, its share price has lost 12.7% of its value. It has clawed back some gains in the last 12 months. But could it reach 60p this year? To reach 60p, Lloyds stock would have to climb a further 12.6%. If I were to do that, it means it would have risen 23.5% over the 12 months. That would be impressive. That may not be realistic. In fact, I doubt the Lloyds share price will top 60p this year. The one-year price target for the stock is 59p. But while we may not see the Black Horse Bank stride through the 60p barrier in 2024, its share price has been gaining momentum in the past few months and I think it’ll continue heading upwards in the months to come. It seems many FTSE 100 banks have been held back by negative sentiment more than anything recently. But that looks like it’s...

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