Lloyds Bank share price could move above 140p before September 2027. That would put it 25% above the current 114p level. The call sits on top of a run of strong gains and a market backdrop that still points to tighter monetary policy.
Mark Rogers and The Twelfth Magpie
Mark Rogers, the UK management team leader at The Twelfth Magpie, sits behind the research framing this forecast. The same work points to Lloyds shares trading on 11 times forward earnings, a valuation that leaves room for more upside if operating conditions stay supportive.
The price history is hard to ignore. Lloyds' share price rose 37% in one September to September period, then 41% in the next, and 42% in the following one. Those three straight annual gains are the backdrop for the 140p target, not a separate story.
Bank of England Rate Path
The current Bank of England rate is 3.75%, and markets are pricing in two rate hikes in 2026. Two hikes would take the rate to 4.25%, which is the kind of setting the forecast says can keep bank margins supported. Higher rates do not lift every lender in the same way, but this call depends on Lloyds still benefiting from a firmer rate environment.
That is where the bullish case starts to meet the risk. The forecast leans on the idea that higher rates can help earnings, yet defaults risk becoming a big issue if rates go any higher. Investors in Lloyds are left weighing both sides at once: a cheaper-than-many-peers valuation and a share price that has already climbed sharply, against the pressure that comes with a tougher rate backdrop.
Before September 2027
Before September 2027 is the deadline that matters now. If the shares reach 140p, the forecast will have translated a recent rally and a lowly-rated stock into another step higher. Whether Lloyds will actually get there is the unanswered part of the call, and that is the piece investors in Lloyds will keep measuring against the price chart.
