Broker tips: Barclays, IPR, Go-Ahead

Delays to the Independent Commission on Banking's (ICB's) proposal to ringfence banks have prompted UBS to upgrade UK lender Barclays from neutral to buy.The broker highlighted "substantial potential value in Barclays if the proposals from the ICB did not precipitate a sharp near-term funding cost as a result of the introduction of ring fencing proposals.""The ability to have more time to get a balance sheet into the right place is likely to lead to lower restructuring costs to get there," the broker said.The broker said that unchanged price target of 208p still reflects a "significant haircut to book value as a result of regulatory uncertainty." Credit Suisse has confirmed an underperform rating on electricity generator International Power (IPR), citing a lack of positive catalysts in the future.The stock is up 18% versus the FTSE 100 over the past month, the Swiss broker notes. Also, IPR now has an enterprise value (EV) of €33bn, "hence start from a high value base which thus makes growth more difficult to achieve." A 300p target price is confirmed.Transport firm Go-Ahead reported steady results on Thursday, according to Nomura, but while the outlook remains solid, the broker believes that the stock is fairly valued and retained its neutral rating.The broker expects EBITA to be lower in the current year, due to the non-recurring £13m of contract benefits in UK rail.The target price is cut from 1,520p to 1,500p. "Although there is a slight shift from UK rail to UK bus within our compound valuation, higher net debt is predominately responsible for the reduction in our price target."BC