Barclays Capital Credit Analysts Upgrade Bank Sector
Barclays Capital credit analyst Jonathan Glionna and Miguel Crivelli upgraded the U.S. banking sector to overweight from market weight Tuesday in the wake of what they called "strong" quarterly results.The analysts said the asset quality has stabilized, capitalization, strong liquidity and balance sheet is robust.
Meanwhile, the financial reform agreed with a lower risk of short-term credit rating downgrades, the sovereign uncertainty moderated after the release of the European stress test results, the risk of litigation fell after Goldman Sachs's (GS) settlement with the Securities and Exchange Commission, spreads are wider than most other sectors, and supply prospects are positive, they added in a note to investors.
Subscribe to:
Post Comments (Atom)
AddThis
No comments:
Post a Comment