Barclays plc upgraded by Investec, BT Group downgraded by JPMorgan as investors take a cooler approach after stellar year thus far
- Details
- Category: Barclays Plc
- Published on Wednesday, 11 April 2012 13:41
- Written by Rob Samson
Broker Action Update: Today sees Investec plc (LON:INVP) upgrading their rating on Barclays plc (LON:BARC) to a Buy.
The Buy call comes as Barclays shares bounce higher by 4 pct to 214.85p.
Investec have advised a target share price at 240.
This morning we reported that Societe Generale had maintained their Hold rating on Barclays, however their target share price is more generous than that bestowed by Investec at 250p.
The Investec call is one made over the stocks current valuation.
After a 20% fall since early March analyst's said the bank’s shares looked ‘a little cheap’ and did not reflect the gains made by BlackRock, the fund management group in which Barclays is a leading shareholder
Elsewhere, BT Group plc (LON:BT.A) was downgraded by JPMorgan. Analysts at the investment bank now have the telecoms giant at Neutral, a target price is set at 240.
Our last quote on BT Group puts the share price at 212.30.
The downgrade comes on valuation grounds, while the broker also cited concerns over its revenue and dividend outlook.
2012 has been a great year so far for BT - the share price has risen some 15 pct, compared with a 5.2 percent fall for the European telecoms sector and 0.4 percent rise for the FTSE 100.
The stock has broken through its 20 and 50 day moving average support levels in the last two trading days, thus investors will be wanting to guard against any over-heating in the share price.
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