0828 GMT - UBS Group's 3Q figures were "somewhat underwhelming," limiting the chances of potential upgrades, Keefe, Bruyette and Woods analysts write. Operating trends in global wealth were unconvincing, KBW says, as revenue disappointed despite "healthy" net new assets. UBS's outlook was also "uninspiring," the analysts note. The Swiss bank's buyback program is running ahead of schedule, but this isn't enough of a win for the company, KBW says. "There is not enough in the results to shift our more cautions stance on the name, in our view," the analysts write, as they stick to an underperform recommendation on the stock. Shares are down 1.5%.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments