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Royal Mail price target upped by Barclays

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Royal Mail PLC (LON:RMG) shares were given a boost by analysts at Barclays on Friday, as they upped their target price.

The target was lifted to 350p from 300p, with the bank’s rating kept at ‘overweight’.

As part of a preview of the wider sector, analysts at the bank were confident that most operators will meet their targets for the forth quarter of 2020.

“We believe that the focus will quickly move on to the 2021 outlook, which remains highly uncertain on volumes, as consensus expectations assume EBIT growth for all of them,” the analysts wrote.

“The key questions will be focused on how much of the parcel volume growth will stay structural but also how much of the 2020 letter volume loss will come back with the recovery in economic activity post-Covid.”

VSA Capital Market Movers – Prime Mining

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