UBS: Credit Suisse ups target price after Q2 results
(CercleFinance.com) - Credit Suisse reaffirms its "outperform" rating on the UBS share, having raised its corresponding target price from 14 Swiss francs to 14.
5 Swiss francs, after the banking group published Q2 net profit that is 27% above the consensus.
"UBS indicated Q3 had started well, and while GWM gross margin was light, UBS flagged tailwinds into Q3 (higher AUM/loans) and persistent cost savings," the broker said.
Credit Suisse has raised its EPS estimates for 2020, although leaves those for 2021-22 unchanged (about 15% above consensus), expecting " superior earnings momentum to continue to drive near term outperformance for the shares".
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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.
5 Swiss francs, after the banking group published Q2 net profit that is 27% above the consensus.
"UBS indicated Q3 had started well, and while GWM gross margin was light, UBS flagged tailwinds into Q3 (higher AUM/loans) and persistent cost savings," the broker said.
Credit Suisse has raised its EPS estimates for 2020, although leaves those for 2021-22 unchanged (about 15% above consensus), expecting " superior earnings momentum to continue to drive near term outperformance for the shares".
Copyright (c) 2020 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.