Brokers: Barclays bullish on financial services
Date
7/20/2016 7:54:05 AM
(MENAFN- ProactiveInvestors - UK) Tom Howard, 10:05
Barclays Capital was bullish about fellow banking stocks and finance providers on Wednesday as it upped its price targets for seven of its peers.
It raised its price targets for Aldermore Group PLC (LON:ALD), Close Brothers Group PLC (LON:CBG), IG Group Holdings PLC (LON:IGG), OneSavings Bank PLC (LON:OSB), Paragon Group of Cos PLC (LON:PAG), and Shawbrook Group PLC (LON:SHAW).
Despite Barclays' positive sentiment towards the finance sector, its bullish outlook was not reciprocated by UBS.
The Swiss banking giant downgraded Barclays PLC (LON:BARC) from a 'buy' recommendation to a 'neutral' rating.
Elsewhere, investment management company Ashmore group PLC (LON:ASHM) was moved down by both Citigroup and Peel Hunt.
Citigroup downgraded the stock to a 'neutral' rating from 'buy', although it lifted its share rprice target slightly to 350p from 330p.
Similarly, Peel Hunt moved Ashmore down to a 'reduce' recommendation from 'hold', although it also raised its price target by 20p to 330p.
Budget airline Easyjet PLC (LON:EZJ) was downgraded to a 'neutral' rating from 'overweight' by JP Morgan Cazenove.
Elsewhere, Revolution Bars Group PLC (LON:RBG) had its 'buy' raecommendation reiterated by both finnCap and Numis.
finnCap repeated its price target of 232p for the bar chain, while Numis repeated its 265p target.
In the small caps, Cantor Fitzgerald reiterated its 'buy' recommendation for oil and gas explorer Providence Resources PLC (LON:PVR).
Tom Howard