Deutsche Bank Upgrades Barclays (BCS) to Buy (Earlier)

Deutsche Bank upgraded Barclays (NYSE: BCS) from Hold to Buy and raises target to 198p to 270p

Analyst David Lock commented, "After a year of restructuring, transition to a new reporting structure, and aided by favourable macro trends (particularly FX) Barclays starts 2017 well placed for earnings growth. Improved capital markets conditions should help soften a weaker top-line in retail, whilst we see opportunity for cost reductions in the IB & non-IB businesses. Meanwhile we expect credit costs to remain robust given better marcoeconomic data and credit performance history, and capital remains on-track. Barclays shares have performed well since the US election in November, however think there is still upside from here. Our target price rises to 270p, and with 15% upside we upgrade our rating from Hold to Buy."

For an analyst ratings summary and ratings history on Barclays click here. For more ratings news on Barclays click here.

Shares of Barclays closed at $11.54 yesterday.

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