Shore Capital lifts Barclays target to 535p and pledges RoTE over 14%
Shore Capital raised Barclays PLC's price target to 535p from 450p after full-year results beat expectations and guided for return on tangible equity above 14% by 2028. The broker cited stronger capital generation and affirmed the bank's plan for sustainable double-digit shareholder distributions.
1. Full-Year Results Exceed Forecasts
Barclays reported full-year results that surpassed analyst expectations, leading to guidance for a return on tangible equity above 14% by 2028. This outcome reflects improved performance across core business lines and underpins confidence in continued earnings growth.
2. Broker Raises Target Price to 535p
Shore Capital increased its price target on Barclays PLC to 535p from 450p, citing the bank’s robust capital generation and its ability to deliver sustainable returns. The 19% uplift in target reflects heightened optimism about profit resilience and capital efficiency.
3. Commitment to Bumper Shareholder Returns
The bank pledged enhanced shareholder distributions, including dividends and share buybacks, supported by its capital plan. Shore Capital emphasized that the combination of above-14% RoTE guidance and improved capital metrics forms the basis for these bumper returns.