Zacks Investment Research upgraded shares of Barclays PLC – ADR (BCS) from UNDERPERFORM to NEUTRAL on January 09, 2015, with a target price of $15.00.
We are upgrading our recommendation on Barclays to Neutral, reflecting the success of its expense-saving initiatives. However, the company reported dismal results for the nine months ended Sep 30, 2014 owing to the persistent slump in Investment Banking division, partially offset by a fall in operating expenses. Notably, performances of all segments, except Investment Bank and Africa Banking, were impressive. Further, we believe that the company's streamlining initiatives will go a long way in improving its overall financial performance and also aid in building its capital level. Nonetheless, subdued revenue growth, lower client activities, litigation and regulatory issues will continue to adversely affect the company's performance in the near term.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
To get a free copy of the research report on Barclays PLC – ADR (BCS),
click here.
For more information about research offerings from Zacks Investment Research, visit
Zacks.com .
Be the first to comment