Barclays Removed From Goldman's Conviction Buy List

Goldman Sachs’ Michele Della Vigna has removed Barclays PLC (ADR) BCS from the Conviction Buy List, following the Brexit vote.

Vigna downgraded the rating on the company to Neutral.

Post-Brexit Scenario

Following the decision of the U.K. to leave the European Union, the analyst believes there are two major implications of the post-Brexit macro scenario for Barclays.

Related Link: What's The Difference Between Brexit And The 2008 Crisis?

Firstly, the company is expected to see weaker operating performance, and secondly, there now is meaningful uncertainty on its operational continuity.

Vigna has also removed the company from the Director of Research Focus List. Currently, Goldman Sachs’ Directors of Research Focus List contains 17 stocks.