 Lloyds Banking Group PLC LSE:LLOY was highlighted as top pick, Virgin Money UK PLC LSE:VMUK was upgraded but Barclays PLC LSE:BARC downgraded by JPMorgan against a background of the Bank of England hiking rates but the UK economic outlook becoming less clear. Higher inflation and downwards revisions to economic growth are starting to cloud the positive case for the banks, analysts at the investment bank said. 