JPMorgan Chase & Co. Raises Barclays (LON:BARC) Price Target to GBX 620

Key Points

• JPMorgan raised Barclays’ price target to GBX 620 from GBX 610 and maintained an “overweight” rating, implying 30.75% upside from the previous close.
• Analyst sentiment is broadly positive: six analysts rate Barclays a “Buy” and one a “Hold,” producing a “Moderate Buy” consensus and an average target of GBX 578.33.
• Barclays opened at GBX 474.20, with shares trading below their 50-day average of GBX 507.20; the bank reported quarterly EPS of GBX 30.70 and has seen recent insider purchases.

Barclays (LON:BARC - Get Free Report) had its price objective boosted by equities research analysts at JPMorgan Chase & Co. from GBX 610 to GBX 620 in a note issued to investors on Tuesday, Digital Look reports. The firm presently has an "overweight" rating on the financial services provider's stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 30.75% from the company's previous close.

Other equities research analysts have also recently issued research reports about the stock. Citigroup lifted their price target on shares of Barclays from GBX 505 to GBX 510 and gave the stock a "neutral" rating in a research report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a GBX 570 target price on shares of Barclays in a research note on Wednesday, July 29th. Berenberg Bank reiterated a "buy" rating and set a GBX 620 target price on shares of Barclays in a report on Thursday, September 3rd. Jefferies Financial Group raised their price target on shares of Barclays from GBX 590 to GBX 600 and gave the stock a "buy" rating in a research note on Wednesday, September 2nd. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a GBX 550 target price on shares of Barclays in a research note on Wednesday, August 12th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Barclays presently has a consensus rating of "Moderate Buy" and a consensus price target of GBX 578.33.

Barclays Price Performance

Shares of Barclays stock opened at GBX 474.20 on Tuesday. The company's fifty day moving average price is GBX 507.20 and its two-hundred day moving average price is GBX 464.65. Barclays has a 52-week low of GBX 353.55 and a 52-week high of GBX 538.30. The firm has a market capitalization of £63.64 billion, a PE ratio of 9.82, a price-to-earnings-growth ratio of 1.15 and a beta of 0.87.

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

Insider Activity at Barclays

In related news, insider Mary Mack acquired 2,160 shares of the firm's stock in a transaction that occurred on Tuesday, July 28th. The stock was acquired at an average cost of GBX 497 per share, for a total transaction of £10,735.20. Also, insider Julia Wilson bought 2,033 shares of Barclays stock in a transaction that occurred on Tuesday, July 28th. The stock was bought at an average price of GBX 497 per share, for a total transaction of £10,104.01. In the last 90 days, insiders purchased 27,498 shares of company stock valued at $13,666,506. 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 customers are being urged to claim a potential £750 boost by November 25, likely linked to a switching or promotional offer. The campaign could support customer acquisition, deposits and engagement, although any financial benefit to Barclays is likely limited relative to its overall business. Barclays customers urged to act by November 25 for £750 boost
• Neutral Sentiment: Barclays is hosting its Financial Services Conference, where Fifth Third Bancorp NASDAQ: FITB is scheduled to present. The event may generate sector commentary and investor interest, but it does not represent a new operating update from Barclays. Fifth Third to Present at Barclays Financial Services Conference
• Neutral Sentiment: PennyMac Financial NYSE: PFSI is updating its outlook amid rising mortgage rates during the Barclays Global Financial Services Conference. The discussion could offer read-through on mortgage and consumer-finance conditions, but it is not evidence of a change in Barclays’ own earnings outlook. PennyMac Financial Updates Outlook Amid Rising Mortgage Rates
• Neutral Sentiment: A broader message to Nationwide, Lloyds, Barclays and other savings customers highlights changing account communications and offers. It appears customer-service or product-related rather than a material financial announcement for Barclays investors. Nationwide, Lloyds, Barclays and other savings account customers sent new message

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.

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