Less Ads, More Data, More Tools Register for FREE

Investec upgrades Barclays to 'buy' but prefers others

Tue, 25th Aug 2015 12:09

(ShareCast News) - Analysts at Investec have upgraded Barclays to 'buy' from 'sell' and held a price target of 270p.Investec said a 15.3% three week correction was the sole reason for the recommendation change, and the bank offers a relatively modest upside on a 12 month view."However, while we now see reasonable upside for Barclays, we think RBS offers a stronger capital story, HSBC a higher dividend yield, and One Savings Bank vastly superior growth and returns."In a note to clients, Investec said it did not expect Barclays to achieve a 10% return on tangible equity before 2018.Investec said it had made "very minor" revisions to forecasts to reflect coupons on Barclays' latest £1bn AT1 issuance, and small downgrades in Africa to reflect further appreciation of the pound against the South African Rand.Shares in Barclays were up by 5.95% to 259.40 at 1226 BST.

Related Shares

More News
13 Jun 2024 09:37

LONDON BROKER RATINGS: Jefferies raises Great Portland to 'hold'

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and on Wednesday:

13 Jun 2024 00:00

Revolut picks new Canary Wharf HQ as it expands headcount

LONDON, June 13 (Reuters) - Britain's Revolut is to become the first tenant in a newly refurbished building in London's Canary Wharf financial distr...

12 Jun 2024 08:47

TOP NEWS: National Grid gets 90% acceptances for GBP7 billion raise

(Alliance News) - National Grid PLC on Wednesday said it received acceptances for more than 90% of the new shares on offer as part of its GBP7.00 bill...

10 Jun 2024 15:36

Britain's payments industry calls for delay and cut in scam compensation rules

LONDON, June 10 (Reuters) - Britain's payments sector on Monday called on its regulator to roll back and delay by a year tough new compensation rule...

10 Jun 2024 14:07

Britain's payments industry calls for delay and cut in scam compensation rules

LONDON, June 10 (Reuters) - Britain's payments sector on Monday called on its regulator to roll back and delay by a year tough new compensation rule...

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.