Bank of America Securities analyst Perlie Mong reiterated a Buy rating on Barclays (BARC – Research Report) today and set a price target of p370.00.
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Perlie Mong has given his Buy rating due to a combination of factors including Barclays’ strong financial performance in the fourth quarter of 2024 and the potential for future earnings growth. Barclays reported a profit before tax that surpassed market expectations, driven by higher income from investment banking and net interest income, despite increased costs.
Additionally, the company’s future estimates for 2025 and 2026 suggest a continued positive trajectory with projections for higher income and lower impairments compared to previous consensus. The valuation of Barclays stock remains appealing, as it trades below its tangible book value, suggesting potential for appreciation. Mong believes in the management’s ability to meet key targets, thereby reinforcing a positive outlook on the stock’s performance.
According to TipRanks, Mong is a 2-star analyst with an average return of 2.8% and a 50.00% success rate.
In another report released today, J.P. Morgan also maintained a Buy rating on the stock with a p370.00 price target.