Berenberg Tweaks Barclays Estimates After FY26 Revenue Guidance Upgrade

09:33 AM EDT, 07/29/2026 (MT Newswires) -- Berenberg made "minor" changes to its estimates for Barclays (BARC.L) after the British banking group upgraded its full-year 2026 revenue guidance amid better-than-expected operating performance in the second quarter. In a note published Wednesday, the research firm said the negative stock reaction following the quarterly results was "overdone," expressing continued confidence in Barclays' ability to achieve its near- and outer-year financial targets. Analysts thus nudged up their EPS projections for 2026 and 2027 by 0.1% and 0.2%, respectively, while the estimate for 2028 was left unchanged. Income forecasts over the three-year period were also upwardly revised. "Barclays' UK business is best-in-class, with countercyclical growth and high revenue yields supporting attractive risk-adjusted returns. Despite our cautious outlook on global investment bank activity, we believe that the market underappreciates the strength and momentum in Barclays' investment bank. Far from being 'just another European investment bank', Barclays has the strongest investment bank franchise of any non-US bank in the US market, where we estimate returns are twice as high as in Europe," Berenberg noted. "Moreover, Barclays is successfully gaining further share and faces fewer headwinds than European peers, in our view." The stock's buy rating and price target of 6.20 pounds sterling were both retained.