Investec has reiterated its 'buy' rating and 240p target price for UK banking group Barclays, saying that 'value always wins in the end'."It's one in the eye today for Barclays's many enemies and detractors. H1 2012 underlying profit before tax of £4.2bn is 11% ahead of consensus, driven (as always?) by a better-than-expected performance within Barclays Capital," said analyst Ian Gordon.Barclays Capital, or BarCap, revenues in the first half came in at £6.5m, well ahead of consensus estimates of £6.1bn."After an exceptionally strong performance in Q1, Q2 vs Q2 is up 14% - head and shoulders above peers, and, despite the more recent regulatory assault, this underpins the belief that, in challenging conditions, BarCap should continue to consolidate market share and enjoy a 'survivor's premium'," Gordon said.On the group level, revenues of £15.5bn were 2% ahead of forecasts. Aside from the expects strong performances in UK Retail and Barclaycard, there was sharp growth in underlying profits in Barclays Corporate.Investec says that Chief Financial Officer Chris Lucas promised a continuation of "business as usual". While few believed him, the broker says that in spite of the challenges that remain, "he has delivered today". By 10:58, shares were 4.9% higher at 161.12p.BC