Barclays: BofA raises its target price
(CercleFinance.com) - Bank of America reaffirms its 'buy' recommendation on Barclays with a price target raised by around 4% to 370 pence, expecting the British bank's management to implement its strategy and judging that its valuation remains attractive.
Referring back to last week's publication, the broker points to a solid final quarter in 2024, with underlying pre-tax profit broadly in line with consensus, and new targets for 2025 broadly in line with expectations.
'We have left our pre-tax profit forecasts for 2025 and 2026 virtually unchanged, but have reduced that for 2027 by around -5% given the exit of American Airlines', says BofA.
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