Bank of America Securities analyst Perlie Mong maintained a Buy rating on Barclays (BARC – Research Report) today and set a price target of p355.00.
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Perlie Mong’s rating is based on a combination of factors including Barclays’ reported profit before tax (PBT) for the fourth quarter of 2024, which exceeded consensus expectations by 3%. Although underlying figures were slightly below consensus, the higher income largely driven by better-than-expected investment banking income and Tesco net interest income contributed positively to the overall financial performance.
Moreover, Barclays has shown strong share performance over the past year, with valuations remaining attractive. The bank’s future guidance aligns closely with market expectations, and the management’s targets for 2025, such as a return on tangible equity (ROTE) of 11%, are slightly above consensus. These elements, combined with the bank’s income generation capabilities and strategic acquisitions, support Perlie Mong’s Buy rating for Barclays’ stock.
In another report released today, Morgan Stanley also maintained a Buy rating on the stock with a p375.00 price target.
Based on the recent corporate insider activity of 157 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BARC in relation to earlier this year.