Barclays PLC has been upgraded to 'buy' from 'hold' at Deutsche Bank, with an increased price target of 640 pence from 600, dealers said.
Deutsche noted that last week Barclays reported profits and EPS ahead of its expectations. Deutsche's 2005 EPS forecast is unchanged at 51.6 pence, with 2006 increased by 5 pct to 58.8 pence, largely reflecting the earnings accretion from the ABSA deal.
Whilst Deutsche thinks the second half momentum will be difficult for UK Retail, Barclays Capital and Barclaycard in particular, the broker also said it expects earnings growth in Barclays to accelerate in 2006 and 2007, forecasting 14 pct and 11 pct in each year.

DAN...breakout?

Morning chaps!

Afternoon sb..time flies.