Market Overview

UPDATE: Barclays Upgrades Credit Suisse to Equal-Weight; Negatives Priced In

Share:
Related CS
Why A Wall Street Analyst's 'Buy' Rating Doesn't Always Mean Buy
Credit Suisse Calls Six Flags Mgmt One Of The Strongest In It's Coverage Universe, Glowing Over Recent Company Meeting, Reiterates Outperform & $58 PT
Appaloosa's David Tepper Makes Right Call on United Continental (GuruFocus)

Barclays raised its rating on Credit Suisse (NYSE: CS) from Underweight to Equal-weight.

Barclays noted, "Our Underweight view on CS shares had elements in common with UBS (Swiss capital, IB decline, WM erosion), plus the additional concern that CS's capital ratios were failing to build towards Basel-3 requirements, and a lack of clarity over strategic direction in the investment bank (shrinking or rebuilding). As with UBS, we think some of the negatives are now incorporated into market views on CS, including substantially reduced earnings estimates and equity valuation. CS has now taken action to raise capital and, we believe, is back on track to reach its Basel-3 requirements. We still find the IB strategy unclear (which is bad) but recognise that UBS's recent strategy change could encourage CS to make a similar clarification (which could be good)."

Credit Suisse closed at $23.42 on Monday.

Latest Ratings for CS

DateFirmActionFromTo
Jul 2015Deutsche BankDowngradesBuyHold
Jul 2015Morgan StanleyUpgradesEqual-weightOverweight
Jun 2015Morgan StanleyUpgradesEqual-weightOverweight

View More Analyst Ratings for CS
View the Latest Analyst Ratings

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

 

Related Articles (CS)

Get Benzinga's Newsletters