Barclays, the Financial sector company, was revisited by a Wall Street analyst today. Analyst Perlie Mong from Bank of America Securities reiterated a Buy rating on the stock and has a p450.00 price target.
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Perlie Mong’s rating is based on Barclays’ strong quarterly performance and strategic initiatives. The bank reported a profit before tax that exceeded expectations by 6% when excluding a motor finance charge, showcasing its robust financial health. Additionally, Barclays announced a £500 million share buyback as part of a shift to quarterly distributions, signaling confidence in its financial position.
Moreover, the bank’s US Consumer business has shown a positive turnaround, and management has committed to unveiling new targets for 2028 alongside the FY25 results. Barclays remains an attractive investment, trading at approximately 0.8 times its price to tangible book value with a return on tangible equity of 12-13%. These factors, combined with the bank’s self-help measures and valuation appeal, underpin the Buy rating with a price objective of 450 GBp.
In another report released yesterday, RBC Capital also reiterated a Buy rating on the stock with a p500.00 price target.