On Thursday, Barclays (LON: BARC ) made a notable adjustment to its perspective on Man Group Plc (EMG:LN) (OTC: MNGPY), upgrading the investment management firm's stock from Equal Weight to Overweight. The firm also set a new price target of £2.70, reduced from the previous £2.95. The upgrade comes despite Barclays' anticipation of a lackluster third-quarter performance report from Man Group. The firm's decision is grounded in the significant drop in Man Group's share price over the past six months, which Barclays believes has led to the market undervaluing the company's ability to generate performance fees. Barclays argues that the current share price fails to reflect the value of Man Group's performance fee generation, a view they consider excessively conservative.