Market Overview

UPDATE: Barclays Upgrades UBS to Overweight on Turnaround

Related UBS
Is Juniper's Junos Pulse Up for Sale? - Analyst Blog
NetApp Falls 2.5%, UBS Sees 'Mediocre' Outlook for Storage Spending
Report: Walgreen Pressured to Relocate to Europe (Fox Business)

Barclays raised its rating on UBS (NYSE: UBS) from Underweight to Overweight.

Barclays said, "UBS has caught the headlines over the past week with major strategy changes and restructuring efforts. It is downsizing its troubled investment bank by two thirds, and refocusing on its much more successful wealth management activities and on returning capital to shareholders. It is a big change and it prompts a big change in our view too, from Underweight to Overweight. UBS's new business model should be able to generate near-20% RoTEs and, we believe, justify a price/book multiple up to 1.5-2x."

UBS closed at $15.25 on Monday.

Posted-In: BarclaysAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings

 

Most Popular

Related Articles (UBS)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free