Barclays (LON:BARC) Price Target Raised to GBX 600

Barclays (LON:BARC) had its price target lifted by Jefferies Financial Group from GBX 590 to GBX 600 in a research report released on Wednesday morning,Digital Look reports. The brokerage currently has a buy rating on the financial services provider’s stock.

A number of other analysts also recently issued reports on the company. Royal Bank Of Canada reaffirmed an “outperform” rating and set a GBX 550 price target on shares of Barclays in a report on Wednesday, August 12th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 570 price objective on shares of Barclays in a report on Wednesday, July 29th. Berenberg Bank restated a “buy” rating and set a GBX 620 target price on shares of Barclays in a research note on Wednesday, July 29th. JPMorgan Chase & Co. upped their price target on Barclays from GBX 600 to GBX 610 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Finally, Citigroup increased their price target on shares of Barclays from GBX 505 to GBX 510 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Barclays has an average rating of “Moderate Buy” and a consensus target price of GBX 576.67.

Barclays Trading Up 0.3%

Shares of BARC opened at GBX 494.71 on Wednesday. The firm has a market capitalization of £66.72 billion, a price-to-earnings ratio of 10.24, a PEG ratio of 1.15 and a beta of 0.88. The firm’s fifty day simple moving average is GBX 510.26 and its 200-day simple moving average is GBX 463.71. Barclays has a twelve month low of GBX 353.55 and a twelve month high of GBX 538.30.

Barclays (LON:BARC) last issued its earnings results on Tuesday, July 28th. The financial services provider reported GBX 30.70 EPS for the quarter. Barclays had a net margin of 25.61% and a return on equity of 10.11%. On average, analysts predict that Barclays will post 39.1062802 earnings per share for the current fiscal year.

Insider Activity at Barclays

In other Barclays news, insider Anna Cross sold 461,588 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of GBX 521, for a total value of £2,404,873.48. Also, insider Brian Gilvary acquired 3,640 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was purchased at an average cost of GBX 497 per share, with a total value of £18,090.80. In the last 90 days, insiders have bought 27,498 shares of company stock valued at $13,666,506. Corporate insiders own 0.35% of the company’s stock.

More Barclays News

Here are the key news stories impacting Barclays this week:

• Positive Sentiment: Positive analyst coverage: Berenberg reaffirmed its “Buy” rating and set a GBX 620 price target, implying meaningful upside from recent trading levels. A separate report also highlighted Jefferies’ expectation for strong appreciation in Barclays shares. Jefferies Financial Group Forecasts Strong Price Appreciation for Barclays Stock
• Positive Sentiment: Singapore private-bank expansion: Barclays plans to more than double its private-bank headcount in Singapore by 2030. The move signals an effort to capture growth among wealthy clients in Asia and could support longer-term fee income, although it will require additional investment before benefits materialize. Barclays to More Than Double Singapore Private Bank Headcount
• Neutral Sentiment: Risk-management caution: Barclays strategist Emmanuel Cau sees a case for reducing risk as September develops. The comments may influence broader market sentiment toward financial stocks, but they do not represent a change in Barclays’ operating outlook. Barclays’ Cau Sees Case for Reducing Risk as September Unfolds
• Negative Sentiment: Reputational and legal overhang: Barclays faces a complaint related to financing for a power plant near Bangladesh’s Sundarbans mangrove forest. While the direct financial exposure is unclear, the issue could add compliance, litigation and reputational risks. Barclays Faces Complaint Over Power Plant Financing

Barclays Company Profile

Barclays PLC provides various financial services in the United Kingdom, Europe, the Americas, Africa, the Middle East, and Asia. The company operates through Barclays UK and Barclays International division segments. It offers financial services, such as retail banking, credit cards, wholesale banking, investment banking, wealth management, and investment management services. In addition, the company engages in securities dealing activities. The company was formerly known as Barclays Bank Limited and changed its name to Barclays PLC in January 1985.