Credit Suisse has upped its Barclays PLC (LSE:BARC) target price and maintained its outperform rating in the belief volatility should help its investment bank operation.
A new target price has now been set at 240p, a 17% increase from the previous 205p.
Analysts at Credit Suisse added that its “inference from the results” released yesterday was that the bank should continue to benefit from the current macro and market conditions.
“Barclays' FICC franchise market share increases when macro outperforms, and its equities franchise market share increases when derivatives outperform, ” said the note.
The broker also expects that the concerns over the investment bank performance that have driven the shares lower this year should reverse now after the latest update from the bank.