Royal Bank of Canada Trims Barclays (LON:BARC) Target Price to GBX 250

Barclays (LON:BARC) had its price objective cut by Royal Bank of Canada from GBX 260 ($3.31) to GBX 250 ($3.18) in a research note issued to investors on Thursday morning, MarketBeat Ratings reports. They currently have an outperform rating on the financial services provider’s stock.

A number of other brokerages have also recently issued reports on BARC. Shore Capital reiterated a buy rating on shares of Barclays in a report on Thursday, February 29th. Jefferies Financial Group restated a buy rating and issued a GBX 335 ($4.27) price target on shares of Barclays in a report on Tuesday, May 21st. JPMorgan Chase & Co. restated an overweight rating on shares of Barclays in a report on Tuesday, March 12th. Berenberg Bank restated a buy rating and issued a GBX 280 ($3.57) price target on shares of Barclays in a report on Thursday, May 16th. Finally, Peel Hunt initiated coverage on Barclays in a report on Friday, April 19th. They issued a buy rating and a GBX 245 ($3.12) price target for the company. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of Buy and an average target price of GBX 262 ($3.34).

Barclays Stock Performance

Shares of LON:BARC opened at GBX 202 ($2.57) on Thursday. Barclays has a 1 year low of GBX 128.12 ($1.63) and a 1 year high of GBX 224.30 ($2.86). The stock has a market capitalization of £30.20 billion, a P/E ratio of 776.92, a PEG ratio of -1.09 and a beta of 1.35. The stock has a 50-day simple moving average of GBX 205.13 and a 200-day simple moving average of GBX 174.

About Barclays

Barclays PLC provides various financial services in the United Kingdom, Europe, the Americas, Africa, the Middle East, and Asia. The company operates through Barclays UK and Barclays International division segments. It offers financial services, such as retail banking, credit cards, wholesale banking, investment banking, wealth management, and investment management services.