Shares of global bank Barclays are forecast to more than double over the next 12 months, according to Jefferies. The British bank's stock has underperformed and is valued below its peers over the past few months. The disparity has led to the bank reportedly hiring consulting firm BCG to undertake a strategic review to address weaknesses in the share price. The bank's analysts predict that Barclays can potentially buy back £2.2 billion worth of shares in 2024 and 2025, along with £1.5 billion this year. As the bank's earnings increase, its share price could also rise, providing a better return for shareholders.

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Persons: Jefferies, Joseph Dickerson, Benjamin Toms, Roger Lee Organizations: Barclays, BARC, Jefferies, RBC Capital Markets, RBC, Investec Securities Locations: London, United States, British, U.K