I think the Lloyds (LSE: LLOY) share price could hit 136.8p by the end of 2027. That valuation would mean a further 18.3% gain from the current 114.7 share price as I write on Friday 31 July. A 30% increase in the interim dividend to 1.58p per share and a 26.3% increase in earnings per share (EPS) to 4.8p were highlights. Analyst consensus estimates from 17 July are showing forward EPS of 12p per share. Here's how I've calculated my price target for 2027:Current price: 114.7pFY2026 consensus EPS: 10.1pImplied forward P/E: 11.4 timesFY2027 consensus EPS: 12pProjected 2027 price (same 11.4 times multiple applied): 136.8pImplied increase: 19.3The forward P/E multiple remaining constant is the key here.