UBS: Barclays cuts target price, sees pressure on margins
(CercleFinance.com) - Barclays has cut its target price for the UBS share from 15.
1 Swiss francs to 14.5 Swiss francs, citing "more pressure on margins."
The British broker - whose estimates are now "materially below consensus" - said that it has reduced its gross margin expectations for UBS' wealth management division, and sees lower growth in assets under management than the Swiss bank expects.
BarCap has maintained its "underweight" rating on the stock, adding that its new target price implies only 6% upside over the next 12 months, compared with an average of 21% upside for the sector as a whole.
Copyright (c) 2018 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.
1 Swiss francs to 14.5 Swiss francs, citing "more pressure on margins."
The British broker - whose estimates are now "materially below consensus" - said that it has reduced its gross margin expectations for UBS' wealth management division, and sees lower growth in assets under management than the Swiss bank expects.
BarCap has maintained its "underweight" rating on the stock, adding that its new target price implies only 6% upside over the next 12 months, compared with an average of 21% upside for the sector as a whole.
Copyright (c) 2018 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.