Litigation Remains Risk for Barclays as Restructuring Wraps Up; FVE Increased
We are transferring coverage of no-moat Barclays and increasing our fair value estimate to GBX 250 per share from GBX 200 and to $12.20 per ADR from $11. Our fair value estimate is 0.7 times 2017 estimated book value per share and 0.8 times tangible book value per share.We believe Barclays, having nearly completing its restructuring plan, will be ahead of its peers in terms of focusing on its core business and grabbing market share. Within two years the bank has managed to reduce the risk-weigh...
Barclays is a holding company. Through its subsidiaries, Co. is a financial services provider engaged in retail banking, credit cards, wholesale banking, investment banking, wealth management and investment management services. Co.'s business segments are: Barclays U.K, which provides everyday products and services to retail customers and small to medium sized enterprises; Barclays International, which delivers products and services designed for Co.'s corporate, wholesale and international banking clients; and Head Office, which comprises head office and central support functions (including treasury) and businesses in transition.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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