Barclays (LON:BARC) Price Target Cut to GBX 590 by Analysts at Jefferies Financial Group

Key Points

• Jefferies cut its Barclays price target to GBX 590 from GBX 600 but maintained a Buy rating; the revised target implies 35.79% upside from the prior close.
• Analyst sentiment remains broadly positive: six analysts rate Barclays a Buy and one a Hold, giving it a Moderate Buy consensus and an average target of GBX 575.

Barclays (LON:BARC - Get Free Report) had its price objective decreased by analysts at Jefferies Financial Group from GBX 600 to GBX 590 in a note issued to investors on Wednesday, Digital Look reports. The firm currently has a "buy" rating on the financial services provider's stock. Jefferies Financial Group's target price would indicate a potential upside of 35.79% from the stock's previous close.

A number of other equities research analysts have also issued reports on the company. JPMorgan Chase & Co. increased their price target on Barclays from GBX 610 to GBX 620 and gave the stock an "overweight" rating in a research note on Tuesday, September 15th. Citigroup decreased their price target on Barclays from GBX 510 to GBX 500 and set a "neutral" rating on the stock in a report on Wednesday, September 23rd. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a GBX 570 price objective on shares of Barclays in a research report on Friday, October 23rd. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a GBX 550 price objective on shares of Barclays in a research note on Wednesday, August 12th. Finally, Berenberg Bank reiterated a "buy" rating and set a GBX 620 target price on shares of Barclays in a research report on Friday, October 23rd. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Barclays currently has a consensus rating of "Moderate Buy" and an average target price of GBX 575.

Barclays Price Performance

Shares of LON BARC opened at GBX 434.50 on Wednesday. The firm has a fifty day moving average price of GBX 455.45 and a 200-day moving average price of GBX 462.23. The stock has a market cap of £58.02 billion, a PE ratio of 9.00, a price-to-earnings-growth ratio of 1.15 and a beta of 0.91. Barclays has a 1 year low of GBX 361.35 and a 1 year high of GBX 538.30.

Barclays (LON:BARC - Get Free Report) last announced its quarterly earnings data on Thursday, October 22nd. The financial services provider reported GBX 12.30 EPS for the quarter. Barclays had a net margin of 26.02% and a return on equity of 10.79%. On average, research analysts expect that Barclays will post 39.11 EPS for the current year.

Insiders Place Their Bets

In related news, insider Anna Cross sold 461,588 shares of the business's stock in a transaction on Friday, August 7th. The shares were sold at an average price of GBX 521, for a total value of £2,404,873.48. Corporate insiders own 0.34% of the company's stock.

Key Headlines Impacting Barclays

Here are the key news stories impacting Barclays this week:

• Positive Sentiment: Barclays reported October share buybacks, which may support shareholder returns and signal continued capital distribution. Barclays reports October share buybacks
• Neutral Sentiment: The bank announced redemption of $1.75 billion in notes. This is a financing and balance-sheet action; the article details provided do not indicate whether the notes will be replaced or what the net effect on funding costs will be. Barclays announces redemption of notes
• Neutral Sentiment: Barclays’ risk chief acquired 9,512 shares under an employee option scheme. This is not described as an open-market purchase, so it offers limited evidence of a fresh discretionary bet on the stock. Risk chief share acquisition
• Negative Sentiment: Motor-finance compensation is the clearest near-term concern in the news flow: a broad redress process could bring material costs and keep uncertainty over Barclays’ liabilities in focus. Barclays offers early settlement deals

About Barclays

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.

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