The group posted quarterly results notably below consensus expectations. Management tried to calm down investors with quantified RoTE commitments for 2019 and 2020 but the latter have lost patience. The most solid profitability lever consists in the promised £1bn costs savings which are not factored at current price levels in our view.
26 Oct 2017
Upside fully relies on cost savings delivery
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Upside fully relies on cost savings delivery
Barclays PLC (BARC:LON) | 191 -2.1 (-0.6%) | Mkt Cap: 28,640m
- Published:
26 Oct 2017 -
Author:
David Grinsztajn -
Pages:
2
The group posted quarterly results notably below consensus expectations. Management tried to calm down investors with quantified RoTE commitments for 2019 and 2020 but the latter have lost patience. The most solid profitability lever consists in the promised £1bn costs savings which are not factored at current price levels in our view.