(CercleFinance.com) – Barclays shares rose Friday morning on the London Stock Exchange following the decision of broker RBC to raise its opinion on the stock.
The intermediary indicates that it has moved to ‘outperformance’ against ‘performance in line with the sector’ on the stock, with a price target raised from 215 to 230 pence, which corresponds to an appreciation potential of nearly 50%.
In a research note, Royal Bank of Canada highlights the ‘structural’ advantage which it believes the British establishment enjoys.
“We expect its recent outperformance against its peers in both trading and investment banking to continue, with Barclays notably set to capitalize on the recent collapse of Credit Suisse,” RBC said. in the study.
‘The group should also reveal more information this year about its wealth management and private banking activities, whose performance is probably undervalued by the market,’ he adds.
Around 11:15 a.m. (London time), Barclays shares gained more than 0.9% while at the same time, the FTSE index advanced by 0.5%.
Helped by the publication of better than expected quarterly results, the stock has regained more than 15% in three weeks.
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