Credit Suisse analyst Omar Keenan swapped Lloyds Banking (LYG) for Barclays (BCS) in its top U.K. banks picks saying Barclays’ underperformance has generated more upside to the firm’s target price. The market is missing that Barclays’ investment bank "could be a volatility beneficiary," and that market dislocation could offer another leg of market-share gains that could improve the investment banking narrative, the analyst tells investors in a research note. It keeps an Outperform rating on Barclays with a GBp 240 price target.
Published first on TheFly
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