Investec has reiterated its buy recommendation and 240p target price for UK banking group Barclays following the news that it intends to sell its entire stake in BlackRock, saying that the deal is sensible but perhaps 'not transformational'."In 2009, the disposal of Barclays Global Investors to BlackRock for $15.2bn was inspired, booking a $6.3bn gain on disposal, with part-settlement in BlackRock equity trading at $227. This provided a timely boost to capital ratios which were then in need of support. "Today, Barclays has strong capital ratios and the incremental benefit is modest. The most obvious argument for a sale is that Barclays receives little credit for owning 19.6% of BlackRock, and with the Group on 0.46x tNAV [tangible net asset value], why not cash out at par?" the broker said.Investec said that it would be more excited about today's news if it was concerned about the adequacy of Barclays's capital ratios "which we are not"."Barclays may even see some modest incremental benefit accrue to the income statement from a reduction in regulatory restrictions over Barclays Capital's ability to trade with BlackRock as a function of the current ownership structure."BC