Summary
BANK bosses may be telling the markets business isn't too bad, but brokers aren't convinced it will last. Morgan Stanley reckons the latest allegations about Barclays' extensive tax avoidance schemes are not the banking giant's only worry.
The City big-hitter today slashed its target price for Barclays from 145p to 90p, warning that it may need to raise cash again this year.See the full content of this document
Extract
Big-Hitter Lowers Sights On Troubled Barclays
Analysts say a triple-whammy of rising bad debts, further credit writedowns and a fall in investment banking revenues will eat into Barclays' capital buffer...
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