Barclays on Track Despite Blip from Weaker Market Performance
Dow Jones10-23
0940 GMT - Barclays is performing robustly despite lower market revenue, Berenberg's Michael Christodoulou writes. The British bank is continuing to execute its strategy, while third-quarter results showed sequential improvements, the analyst notes. "Management's commitment on absolute cost targets is welcome and provides clarity by narrowing the range of outcomes and ensuring expanding operating leverage in outer years," Christodoulou adds. Berenberg remains confident that Barclays's return on tangible equity will continue to rise and exceed 15% by 2028, but the share price fails to capture this potential growth, he says. Shares are down 1.0%.
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