Zacks Investment Research Upgrades UBS Group (UBS) to “Buy”
UBS Group (NYSE:UBS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Saturday. The firm currently has a $21.00 price objective on the bank’s stock. Zacks Investment Research‘s target price suggests a potential upside of 11.76% from the stock’s current price.
According to Zacks, “Shares of UBS Group AG have underperformed the industry on the NYSE over the past three months. The company remains focused on building capital levels, global expansion and executing restructuring initiatives. Moreover, it remains focused on achieving its performance targets. While the company's profitability continues to be challenged by negative interest rates in the domestic economy and strict regulatory framework, cost reduction efforts will likely support the bank's bottom line growth.”
A number of other equities analysts have also weighed in on UBS. Instinet lowered UBS Group from a “buy” rating to a “neutral” rating in a research note on Sunday, October 1st. Societe Generale restated a “hold” rating on shares of UBS Group in a research note on Monday, October 30th. TheStreet upgraded UBS Group from a “d” rating to a “c” rating in a research note on Monday, November 27th. Finally, Bank of America upgraded UBS Group from a “neutral” rating to a “buy” rating in a research note on Friday, November 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. UBS Group presently has an average rating of “Buy” and a consensus price target of $21.00.
Institutional investors have recently made changes to their positions in the stock. Mountain Capital Investment Advisors Inc purchased a new position in shares of UBS Group in the 2nd quarter valued at about $118,000. Fiduciary Trust Co. purchased a new position in shares of UBS Group in the 2nd quarter valued at about $136,000. Oppenheimer & Co. Inc. purchased a new position in shares of UBS Group in the 2nd quarter valued at about $173,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of UBS Group by 36.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 10,468 shares of the bank’s stock valued at $178,000 after purchasing an additional 2,809 shares in the last quarter. Finally, River Road Asset Management LLC purchased a new position in shares of UBS Group in the 3rd quarter valued at about $225,000. Hedge funds and other institutional investors own 33.95% of the company’s stock.
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UBS Group Company Profile
UBS Group AG is a holding company and conducts its operations through UBS AG and its subsidiaries. The Company comprises Corporate Center and five business divisions: Wealth Management, Wealth Management Americas, Personal & Corporate Banking, Asset Management and the Investment Bank. Wealth Management division provides advice and tailored financial services to wealthy private clients around the world, except those served by Wealth Management Americas.
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