UPDATE: Societe Generale Downgrades UBS to Hold on Valuation
Societe Generale downgraded UBS (NYSE: UBS) from Buy to Hold.
Societe Generale commented, "UBS has had a good run and now it has hit our target price of CHF16.0. To move up further, the stock would need support from a materially stronger improvement in wealth management offsetting the harsher-thanexpected revenue attrition in the investment bank or alternatively more aggressive guidance on the repayment date of excess capital. Neither of these is yet apparent."
UBS closed at $17.12 on Wednesday.
Latest Ratings for UBS
|Jan 2017||Societe Generale||Upgrades||Hold||Buy|
|Dec 2016||JP Morgan||Upgrades||Underweight||Neutral|
|Dec 2016||Morgan Stanley||Upgrades||Equal-Weight||Overweight|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.