Movement Alert|Barclays Rises 3.71% in Regular Trading, Boosted by Bank of America Target Price Upgrade

Market Focus06-18

On June 17, Barclays rose 3.71% in regular trading, trading at $26.935/share, with turnover of $72.68 million.

On the news front, Bank of America Global Research raised its target price on Barclays from 570 pence to 600 pence per share, signaling increased confidence in the bank's outlook. The upgrade comes amid a broadly positive session for diversified banks, with the sector seeing widespread gains.

Additionally, Barclays recently agreed to acquire the UK operations of GoHenry, a money management education platform for youths, from Acorns Grow, expanding its retail banking footprint. The bank also raised its year-end target for the Euro Stoxx 600 index from 620 to 670 points, ending its underweight rating on European equities, citing falling oil prices and a potential US-Iran deal as factors that could reduce eurozone stagflation risks.

Within the Diversified Banks sector, JPMorgan Chase up 1.55%, Citigroup up 1.81%, Bank of America up 1.22%, Nu Holdings Ltd. up 5.19%, Wells Fargo up 0.74%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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