© Reuters.
LONDON – Barclays has made a series of recalibrations to its price targets on a range of FTSE-listed stocks, reflecting a mix of optimism and caution in its latest assessments. Beazley PLC saw its price target trimmed but retained an ‘Overweight’ rating at £8.00. Aviva (LON:) PLC enjoyed a modest increase to £4.80, while Admiral Group (LON:) PLC’s target was ambitiously raised to £30.44.
In a contrasting move, Spirax-Sarco Engineering PLC faced a significant cut in its price target to £98.70 but maintained an ‘Equal weight’ status. AstraZeneca PLC (LON:) also experienced a reduction in its target, now set at £125.00, yet the pharmaceutical giant continued to hold a ‘Buy’ rating.
This reshuffling of valuations follows a week of varied adjustments across the financial sector. On Friday, Burberry Group (OTC:) PLC’s price target was dialed back by Deutsche Bank to £19.50, reflecting a more conservative outlook.
In the mid-cap sector, Virgin Money (LON:) UK PLC navigated through downgraded forecasts from Citigroup and RBC, with their targets settling between £1.82 and £2.10, respectively. Direct Line Insurance Group PLC and Just Group PLC found favor in Barclays’ eyes, as their targets were lifted, enhancing their market positions.
Even smaller-cap entities like Sabre (NASDAQ:) Insurance Group PLC and Old Mutual Limited weren’t left out of the adjustments, both receiving slight increases in their Barclays-set valuations.
The recalibrations come amid a broader context of market reevaluations by financial institutions. Peel Hunt and Numis both upgraded Rightmove (OTC:) PLC with a ‘Buy’ rating and a specific target of £6.75 by Numis. Conversely, Goldman Sachs took a bearish turn on Entain PLC, slashing its price target from £14.50 to £8.20 and downgrading the stock from ‘Buy’ to ‘Sell’.
In the energy sector, RBC Capital Markets has raised its sights on BP (NYSE:) PLC, setting an elevated target of £6.25 (GBP1 = USD1.2619) due to anticipated outperformance.
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