Bank of America Securities analyst Perlie Mong maintained a Buy rating on Barclays today and set a price target of p530.00.
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Perlie Mong has given his Buy rating due to a combination of factors, starting with Barclays’ stronger-than-expected Q4 performance, where underlying profit before tax exceeded market forecasts and was supported by higher investment banking fees despite some cost pressures. In addition, the announced £1bn share buyback and management’s guidance for 2028, including a return on tangible equity target above 14% and a lower cost-income ratio than consensus, underpin confidence in both profitability and capital return.
Perlie Mong’s rating is based on the upgraded medium-term outlook, with 2026 income guidance raised to about £31bn and plans to lift the dividend to roughly £2bn, signaling improving earnings power and shareholder remuneration. The strategy to keep the CET1 ratio near the top of the 13–14% range while aiming to return more than £15bn of capital between 2026 and 2028 further supports the Buy recommendation, as it combines robust balance sheet strength with attractive distributions to investors.
According to TipRanks, Mong is a 4-star analyst with an average return of 18.2% and an 84.62% success rate. Mong covers the Financial sector, focusing on stocks such as Barclays, HSBC Holdings, and Lloyds Banking.
In another report released today, Morgan Stanley also maintained a Buy rating on the stock with a p510.00 price target.