Barclays Shares Hit Multi-Year High : Price Targets Move To The Upside

Barclays share price (LON:BARC) is enjoying a stellar year, reaching new heights today at 335.70p and attracting significant investor attention. The stock pulled back to close at 331.30p, down 0.17% on the day.

Impressively, Barclays has carved out gains of 24% since the start of this year, and 60.94% over the past 12 months to trade at levels not seen in a decade.

The current valuation paints a compelling picture. With a forward 12-month price-to-earnings (P/E) ratio of just 7.7x, Barclays trades below the financial sector average of 9.4x. This suggests that the market may even be underestimating the bank's earnings potential.

Analysts are certainly bullish on Barclays' prospects. Consensus estimates project a robust 21.2% year-over-year earnings growth for 2025, followed by an even more impressive 22.6% increase in 2026.

These projections reflect anticipated strong performance across the bank's various business segments, driven by factors such as increased lending activity.

Recent price target upgrades from JPMorgan, Deutsche Bank, and Citi since the start of the month have all aided the bullish sentiment.

JP Morgan raised its price target from 400p to 420p, whilst Deutsche Bank reaffirmed its “buy” rating with a price target of 380p (up from 370p).

Citi were more cautious with their price target, albeit with a raise from 345p to 360p, also maintaining a “buy” rating.