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Barclays trims London Stock Exchange Group’s earnings, but retains overweight rating

Published 04/08/2023, 15:11
Updated 04/08/2023, 15:40
© Reuters.  Barclays trims London Stock Exchange Group’s earnings, but retains overweight rating
BARC
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LSEG
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Proactive Investors - Barclays (LON:BARC) has revised its earnings per share (EPS) forecast for the London Stock Exchange Group PLC (LON:LSEG) following the capital markets company's interim results posted today.

The bank has trimmed its EPS projections to 3.76p for the full year due to higher-than-expected costs in the first half, largely attributed to foreign exchange fluctuations and increased investment spending.

Despite this, Barclays maintains an 'overweight' rating on LSEG's stock, indicating a positive outlook for the company's future performance.

Barclays’ LGES price target is set at 9.20p, constituting a 14% upside on the publication price of 8.09p.

Barclays remains optimistic about LSEG's revenue prospects, echoing the positive sentiment expressed by the company's management today.

The bank perceives LSEG's earnings mix and profile as undervalued, suggesting potential for growth and profitability.

Read more on Proactive Investors UK

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