UBS: Credit Suisse raises 2021 guidance
(CercleFinance.com) - With US investment banks reporting above-consensus revenues, Credit Suisse has raised its FY2021 EPS estimate for UBS by around 3%.
The analyst raises his target price for the share from 18.0 Swiss francs to 18.5 Swiss francs. " UBS trades on 7.8x consensus 2-year forward earnings versus the sector on 8.8x, an unusual discount since the business restructured in 2012," the broker says.
"We look to strong results and a FY strategic update with new financial targets as positive catalysts," Credit Suisse adds.
The broker confirms its Outperform rating on the stock. "We model a total return yield for UBS of 7.4%/8.6% in FY22/23, respectively," the analyst adds.
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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.
The analyst raises his target price for the share from 18.0 Swiss francs to 18.5 Swiss francs. " UBS trades on 7.8x consensus 2-year forward earnings versus the sector on 8.8x, an unusual discount since the business restructured in 2012," the broker says.
"We look to strong results and a FY strategic update with new financial targets as positive catalysts," Credit Suisse adds.
The broker confirms its Outperform rating on the stock. "We model a total return yield for UBS of 7.4%/8.6% in FY22/23, respectively," the analyst adds.
Copyright (c) 2021 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.