UBS: Oddo still 'neutral' but raises target price
(CercleFinance.com) - Oddo BHF maintains its "neutral" rating on the UBS share, although has increased its corresponding target price from 13.
3 Swiss francs to 14.1 Swiss francs (+6%), largely reflecting its 2022 forecasts for the Swiss financial institution, which it has increased by 5.5%.
This increase is largely attributable to the GWM and AM divisions, thanks to growth in assets under management, despite pressure on margins (particularly interest rates), the broker says, which remains cautious on CIB revenues for the time being.
The broker remains "neutral" on the stock, highlighting a return to shareholders exposed that is to legal uncertainties and a potential revaluation of around 3.5% in line with the potential of its analysis.
The UBS share is up about 0.4% at about 13.7 Swiss francs on Friday afternoon, about double the rise in the SMI.
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