Market Overview

UPDATE: Societe Generale Downgrades UBS to Sell on Uncertainty of Future Revenue Streams

Related UBS
Analysts Weigh In: Apple's Pending Products Will Drive Profits Or Cut Margins
Puma Biotechnology Soars On Phase III Data; Analyst Smells Takeover Candidate
Top UK Regulator Joins Currency Market Probe (Fox Business)

In a report published on Tuesday, Societe Generale analyst Dominio Watt downgraded UBS (NYSE: UBS) from Hold to Sell and lowered the price target from $16.39 to $15.37

In the report, Societe Generale stated, "When UBS announced its accelerated strategy in October 2012 we increased our target price despite a sharp cut to the EPS outlook, because we expected a significant return of capital to shareholders over time and a reduction in the cost of equity by 1%. This view has been shared by the market, which is now ascribing a significant premium to UBS expecting the bank to become almost a pure wealth and asset manager."

UBS closed Friday at $17.97.

Posted-In: Domino Watt Societe GeneraleAnalyst Color Downgrades Analyst Ratings

 

Most Popular

Related Articles (UBS)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free