RBS share price: what’s the outlook in 2020?
Royal Bank of Scotland has had a lacklustre start to the new year with its share price sliding more than 3% since the beginning of January, but analysts from Goldman Sachs remain optimistic about the stock in 2020.
Royal Bank of Scotland (RBS) has seen its share price slide more than 3% since the start of the new year, but analysts remain upbeat about the stock’s prospects in 2020.
Analysts at Goldman Sachs reiterated their ‘buy’ rating for the stock in December and issued a 315p target price.
Based on RBS trading at 231p as of 14:05 GMT on Tuesday, the US-based investment bank believes that the stock has a potential upside of 36.3%.
But analysts from Citigroup are less optimistic about the stock’s prospects this year, with the bank downgrading its rating from ‘buy’ to ‘neutral’ and offering a price target of 250p.
RBS shakes up beleaguered investment bank
Last year saw the appointment of RBS’ new CEO Alison Rose, who has taken decisive action in shaking up the group, particularly its investment banking unit, NatWest Markets.
Rose has been under significant shareholder pressure to down size its investment bank, with the unit gobbling up capital in exchange for minor returns, with the division delivering a £193 million loss that put a significant dent in RBS’ third quarter results.
RBS will unveil its full-year results on February 14.
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