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ABN Amro: UBS downgrades to 'neutral'.

(CercleFinance.com) - UBS has downgraded its rating on ABN Amro from "buy" to "neutral" and has trimmed its target price from 25.
8 euros to 25.5 euros after the share's strong recent performance.

The broker points out that ABN has been the best-performing Benelux bank over the past 6 and 12 months, outperforming the STOXX Europe 600 Banks index by nearly 10% over the past year.

And while the Dutch bank's dividend yield remains above the sector average, UBS does not think that this is enough to maintain a "buy" rating. It now prefers rival ING.

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