Barclays: shares up after analyst upgrade

(CercleFinance.com) - Barclays shares are up 0.
8% at 214.9 pence on Monday after Jefferies upgraded the stock from "hold" to "buy".

The US broker also raised its target price for the stock from 205 pence to 265 pence.

Jefferies thinks that the interest of activist investor Sherborne, which recently built a stake of over 5% in the British bank, could help unlock upside valuation if efficiency benefits in the investment bank can be extracted.



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