Canaccord Genuity Upgrades Barclays (BCS) to Buy; UK Retail Ring - Fencing Already More Than Discounted

Canaccord Genuity upgraded Barclays (NYSE: BCS) from Hold to Buy. PT increaswed from 313p to 330p.

Canaccord analyst says, "Regulatory uncertainty for Barclays and the other UK banks is likely to drop on publication of the interim ICB report on 11 April with Retail ring-fencing already discounted (due to sourced press leaks). Also, the April to September ‘consultation’ period may dilute the proposals...Markets dislike uncertainty. The current regulatory uncertainty ahead of the ICB interim
report has temporarily de-rated Barclays’ share price creating a buying opportunity, in our view; we believe Barclays offers 15% near-term potential upside from current levels."

For more ratings news on Barclays click here and for the rating history of Barclays click here.

Shares of Barclays closed at $18.73 yesterday.

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