FBR Capital Initiates Coverage on Barclays (BCS) with an Outperform
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FBR Capital initiates coverage on Barclays (NYSE: BCS) with an Outperform and a 488p price target.
FBR analyst says, "Barclays is one of the few banks to have emerged from the crisis with an enhanced franchise, reasonably intact reputation, and a track record that allowed it to avoid participating in the U.K. government's costly Asset Protection Scheme...We believe that compared with most European banks, the Barclays investment case offers greater leverage both to an (eventual) easing of the credit cycle and the longer-term structural growth opportunities in the European and global debt (and to a growing extent, equity) capital markets. Barclays is well placed to benefit from the fat new business margins currently enjoyed in the U.K. and profitable loan growth in its South African business, ABSA."
To see more analyst ratings on BCS Click Here.
Barclays PLC engages in the provision of financial services in Europe, the United States, Africa, and Asia.
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