Morgan Stanley analyst Alvaro Serrano maintained a Buy rating on Barclays (BARC – Research Report) today and set a price target of p375.00.
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Alvaro Serrano has given his Buy rating due to a combination of factors influencing Barclays’ financial performance and outlook. Barclays reported a better-than-expected performance with a 4% pre-provision operating profit beat, driven by strong revenue contributions across most divisions. Despite facing some higher costs and litigation charges, the overall revenue growth was substantial enough to offset these drawbacks.
Additionally, Barclays’ guidance suggests a stable outlook with expected returns on tangible equity surpassing 11% by 2025. The bank’s capital position remains solid with a CET1 ratio of 13.6%, and its cost/income ratio and net interest income projections align well with market consensus, indicating a conservative yet promising future. The stock’s 15% year-to-date increase aligns with sector trends, and the anticipated revenue growth offers further upside potential, supporting the Buy recommendation.
According to TipRanks, Serrano is ranked #2032 out of 9369 analysts.
In another report released on January 28, Citi also maintained a Buy rating on the stock with a £3.20 price target.