Here's What the Wall Street Thinks About ​​Barclays PLC (BCS)

​Barclays PLC (NYSE:BCS) is one of the Best Performing Affordable Stocks Under $40. On January 13, Kepler Cheuvreux maintained a Buy rating on Barclays PLC (NYSE:BCS) and raised the price target from GBP4.60 to GBP5.40. Earlier, on January 6, Jonathan Pierce from Jefferies also reiterated a Buy rating on the stock and raised the price target from 470p to 560p.

​Analysts at Kepler Cheuvreux noted that their bullish sentiment is based on tailwinds, including capital redeployment and structural hedge benefits, which are improving returns for the bank. Moreover, the firm also sees significant room for future growth. It noted that the US consumer bank of Barclays is showing signs of improvement, along with the UK and investment operations, providing significant cost reduction opportunities. Kepler Cheuvreux expects return on tangible equity to exceed 14% by 2028.

​That said, Barclays PLC (NYSE:BCS) on January 7 announced a strategic investment in Ubyx Inc., which is a US -based tech firm building a clearing system for digital money. The digital system includes tokenized deposits and regulated stablecoins. Management noted that this investment aligns with the rising adoption of tokenized money on public blockchains beyond crypto speculation.

​Headquartered in London, Barclays PLC (NYSE:BCS) is a bank holding company that provides credit cards, retail banking, wealth management, and corporate and investment banking services.

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Disclosure: None. This article is originally published at Insider Monkey.