Swiss Life: shares weak as UBS downgrades on valuation
(CercleFinance.com) - Shares of Swiss Life are down 0.
2% at 482.9 Swiss francs on Monday, underperforming a 0.7% rise in Zurich's SMI index, after UBS downgraded its rating for the life insurer to "neutral" from "buy" citing valuation grounds.
While raising its target price from 470 Swiss francs to 485 Swiss francs, UBS says that after the share's strong performance year-to-date, it finds a limited upside over the next 12 months.
The Swiss Life share has risen 27.5% since the start of 2019.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
2% at 482.9 Swiss francs on Monday, underperforming a 0.7% rise in Zurich's SMI index, after UBS downgraded its rating for the life insurer to "neutral" from "buy" citing valuation grounds.
While raising its target price from 470 Swiss francs to 485 Swiss francs, UBS says that after the share's strong performance year-to-date, it finds a limited upside over the next 12 months.
The Swiss Life share has risen 27.5% since the start of 2019.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.