B of A Securities Downgrades Barclays to Underperform, Lowers Price Target to $7.31
Portfolio Pulse from Benzinga Newsdesk
B of A Securities analyst Rohith Chandra Rajan has downgraded Barclays (NYSE:BCS) from Neutral to Underperform and lowered the price target from $8.77 to $7.31.
October 26, 2023 | 10:10 am
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NEGATIVE IMPACT
Barclays has been downgraded to Underperform from Neutral by B of A Securities, and its price target has been lowered to $7.31.
The downgrade from B of A Securities is a negative signal for Barclays. The lowering of the price target from $8.77 to $7.31 suggests that the analyst believes the stock is overvalued at current levels, which could put downward pressure on the stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100