HSBC Upgrades Barclays PLC (BARC) to Buy
Barclays PLC (LON:BARC) was upgraded by equities research analysts at HSBC to a “buy” rating in a research note issued to investors on Wednesday. The brokerage presently has a GBX 190 ($2.48) target price on the financial services provider’s stock, up from their prior target price of GBX 150 ($1.96). HSBC’s target price suggests a potential upside of 9.70% from the company’s previous close.
Several other analysts have also recently weighed in on the stock. Jefferies Group reaffirmed an “underperform” rating and set a GBX 115 ($1.50) price objective on shares of Barclays PLC in a research note on Monday. Deutsche Bank AG reissued a “hold” rating on shares of Barclays PLC in a research note on Thursday, September 15th. Societe Generale reissued a “buy” rating and set a GBX 185 ($2.41) price target on shares of Barclays PLC in a research note on Thursday, September 15th. Morgan Stanley set a GBX 175 ($2.28) price target on shares of Barclays PLC and gave the company a “neutral” rating in a research note on Monday, September 12th. Finally, Citigroup Inc. reissued a “sell” rating and set a GBX 150 ($1.96) price target on shares of Barclays PLC in a research note on Wednesday, August 31st. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of GBX 197.44 ($2.58).
Barclays PLC (LON:BARC) opened at 171.65 on Wednesday. The company has a 50-day moving average price of GBX 165.50 and a 200-day moving average price of GBX 162.24. The firm’s market capitalization is GBX 23.74 billion. Barclays PLC has a 1-year low of GBX 121.10 and a 1-year high of GBX 259.50.
The business also recently disclosed a dividend, which was paid on Monday, September 19th. Investors of record on Thursday, August 11th were given a dividend of GBX 1 ($0.01) per share. This represents a yield of 0.65%. The ex-dividend date was Thursday, August 11th.
In related news, insider Staley,James E sold 97,073 shares of the company’s stock in a transaction that occurred on Monday, June 27th. The shares were sold at an average price of GBX 139 ($1.81), for a total transaction of £134,931.47 ($176,127.75).
About Barclays PLC
Barclays PLC is a global financial services holding company. The Company is engaged in retail banking, credit cards, wholesale banking, investment banking, wealth management and investment management services. The Company’s segments include Barclays UK and Barclays Corporate & International. The Barclays UK segment incorporates the UK Personal, small UK Corporate and UK Wealth businesses, and the Barclaycard UK consumer credit cards business.
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