UBS AG Rating Increased to Neutral at Zacks (UBS)
UBS AG (NYSE:UBS) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a report released on Thursday. The firm currently has a $21.00 target price on the stock. Zacks‘s price target indicates a potential upside of 6.76% from the stock’s previous close.
Zacks’ analyst wrote, “We have upgraded our long-term recommendation on UBS AG to neutral following impressive first-quarter 2014 results. Earnings compared favorably with the prior-year quarter earnings, primarily driven by decreased operating expenses. However, reduced net interest and trading revenues were on the downside. Amid the overall economic volatility, the company is focused on building its capital level. Restructuring initiatives are also encouraging. Given the stressed operating environment, we believe any significant improvement in earnings would remain elusive in the upcoming quarters. “
Separately, analysts at Rafferty Capital Markets upgraded shares of UBS AG from a “hold” rating to a “buy” rating in a research note on Tuesday, May 6th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. UBS AG currently has a consensus rating of “Hold” and an average price target of $32.25.
Shares of UBS AG (NYSE:UBS) traded down 1.50% on Thursday, hitting $19.67. The stock had a trading volume of 5,181,345 shares. UBS AG has a 52 week low of $16.48 and a 52 week high of $21.61. The stock has a 50-day moving average of $20.31 and a 200-day moving average of $20.11. The company has a market cap of $73.785 billion and a price-to-earnings ratio of 21.24.
UBS AG (NYSE:UBS) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.27 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.21 by $0.06. The company had revenue of $7.23 billion for the quarter, compared to the consensus estimate of $7.23 billion. During the same quarter in the prior year, the company posted $0.26 earnings per share. The company’s quarterly revenue was down 7.2% on a year-over-year basis. Analysts expect that UBS AG will post $1.15 EPS for the current fiscal year.
UBS AG is a client-focused financial services company that offers a combination of wealth management, asset management and investment banking services on a global and regional basis.
To view Zacks’ full report, visit Zacks’ official website.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.