UBS: Jefferies raises target price
(CercleFinance.com) - Jefferies reinstates its "buy" rating on UBS shares, with an increased target price of 23 Swiss francs (vs.
22 Swiss francs previously) representing upside potential of around 35%, ahead of the group's FY results and presentation on 1 February.
The broker expects this meeting to be a positive catalyst for the Swiss financial institution's share price, with a possibility that Q4 2021 results will (once again) exceed expectations.
As for other potential pleasant surprises, Jefferies also believes that UBS could announce more ambitious profitability targets, leading to the share price rising, with share buybacks planned for 2022-23 possibly exceeding expectations.
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