Barclays Stays on Track for Targets on Strong Cost Control
J.P. Morgan says Barclays' fixed-income weakness is offset by job cuts and cost discipline, keeping its 2028 return target within reach.
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what happened
J.P. Morgan analysts say Barclays' cost discipline remains reassuring despite weak fixed-income results. Third-quarter income came in 3% below expectations, mainly due to the investment bank, which equities only partly offset.
The bank cut 5,000 full-time positions, which the analysts see as evidence of resilient discipline in spending. J.P. Morgan expects a low single-digit cut to EPS consensus for 2026 to 2028, driven by the weaker investment bank trends. Even so, Barclays is well on track for its 2028 return on tangible equity target, the firm notes. Shares rose 0.4%.
why it matters
Source: Market Talk. For investors, weak investment bank income can limit earnings, but progress on costs supports Barclays' long-term plan and sentiment across European banks.
market impact
Barclays and European banks: weak investment bank income pressures earnings forecasts, while cost cuts support valuations.
tags
instruments
sources
- Barclays on Track for Targets With Good Cost Discipline — Market Talk, 22 October 2026 at 08:29 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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